Signs 3 year, $25m contract with Dallas. Deal includes $5m signing bonus and guaranteed $5m salary for 2006. Cap hit will be $6.67m.
2007- $5m salary, $3m roster bonus (cap hit- $9.67m)
2008- $4m salary, $3m roster bonus (cap hit- $8.67m)
The lower signing bonus would not hinder Dallas cap flexibility if Owens were to be released in 2007 or 2008. The roster bonuses count in full for the current cap year when given. If released next March, Dallas would only incur an accelerated cap hit to cover the remaining pro-rated bonus, $3.34m, or $1.67m if released in March 2008. This is being called an "escape route" for Dallas should Owens "act up" or become a cancer to the organization (honestly, I expect things to flow smoothly this season).
I'm optimistic about this season, especially with the other sigings- LB Akin Ayodele, OG Kyle Kosier, OT Jason Fabini, and TE Ryan Hannam, despite the loss of Dan Campbell, La'Roi Glover, and Keyshawn Johnson (and probably Larry Allen soon). Now, bring in FS Marcus Coleman and PK Josh Brown, make some solid draft picks (Santanio Holmes would be very nice), and order our Super Bowl tickets.