I don't agree with any of this. The contract is "front loaded" in a cap sense but not necessarily in cash. Signing bonuses give the player the present value of that money, too. And front loading to lower the guaranteed money doesn't make sense because obviously the player gets the frontloaded money; it is effectively guaranteed (whether actually guaranteed or not). The cap is an accounting tool. Frontloading from a cap standpoint is just an arbitrary decision to account in a particular way. I think the only real benefit is PR; it can be bad form to have a gargantuan amount of cap space and front loading makes it look like you're spending money and not tanking.