This was originally posted in the Shame of the Year thread, but I didn't want to derail the discussion there:
^^^ Hopefully this is a lesson to STOP giving these huge signing bonuses to players, when the "bonus" is actually salary. Teams should get back to paying normal salaries and normal signing bonuses, except in some rare instances. They create these huge dead cap numbers so you can't just cut the guy; and it gives players like Jones the means to sit out the entire season with a fantom injury and collect a paycheck.
Personally I'd like to see all contracts guaranteed, and if a player is cut his salary doesn't count against the teams' salary cap.
So what would happen to that player for the rest of his contract? Is another team required to pick up the full original salary (and its cap hit) if they sign him as a free agent? If so, it seems like NFL teams would effectively be paying these players the most money specifically to stay off the field. That seems like a weird set of incentives.
Of course, if you don't require the new team to pick up the old contract, and you allow the player to keep his "guaranteed money," then you would see players getting cut and promptly signing league minimum deals with rich contenders. I doubt any of us would feel better about this season if the Dolphins had cut Byron Jones (and paid him his full salary) while he signed a league-minimum deal and was playing for DAL or PHI.
Ultimately, it seems like a system like this would provide the most benefit to the richest teams, who could cut any underperformers and splurge every offseason. The Cowboys would become the Yankees.