There appears to be some discrepancies with regard to the various media reports about the value and breakdown of Terrell Suggs’ new contract extension, but the bottom line appears to be a base deal of $28.5M, of which $16M is fully guaranteed. The deal includes an $11M Signing Bonus, and a first year payout of $12M. The total new money in the deal is $20.7M.
There may be some escalators involved that have yet to be reported. This may explain some of the discrepancies because it was first reported that the final three years of the deal totaled $21M.
Based on those numbers, it would appear that the Ravens would hope to get three more years out of Suggs. At that point, there would only be $4.4M in dead money left, which would be relatively easy to assume. If they get only two more years out of Suggs, there is still a Cap savings from his release ($100K), but they would still have to carry $6.6M in dead money (or, with a post-June 1 release, $2.2M in 2016 and $4.4M in 2017).
Either way, looks like a pretty good deal for both parties. Suggs get paid more this year and greater job security for at least 2015 and the Ravens get $4.6M in much needed Cap space for 2014.