The Falcons will have an out built into the contract around 2022. Of that I am certain. This seems likely:
Signing bonus: $25 million ($12.5 million with 10 days of execution; $12.5 million payable on 4/15/2020)
Guaranteed money: $50.526 million
Fully guaranteed at signing: $37.526 million
New money total: $60 million ($81.026 million over 5 years)
Contract length: Three-year extension
Average per year: $20 millio
We would pick up $3.5 million of 2019 cap room with the renegotiated contract. Jones' 2020 cap number increases by $5 million because of the addition of signing bonus proration with his scheduled salary next year staying the same. The cap numbers in the last four years of the deal are fairly manageable given the size of the contract. There isn't a big variance in those years.
Also, we could exit the deal in 2022 after Jones' guarantees run out without adverse cap consequences if necessary. There would be a $10 million cap charge from the bonus proration in the final years, which would result in a gain of $9.5 million in cap space. Jones would have earned $29.5 million more than he is scheduled to make under his existing contract for playing one additional year.