Apparently you aren't aware that he has 3 more years on his contract. Meaning his contract doesn't expire until 2012. And making it highly unlikely that one good year out of 5 would earn him another front-loaded contract.
No kidding. Cap room or not, I can't figure out why the hell the team fronted him that extra cash unless they were planning to cut him and bring him off the books...which makes no sense heading into an uncapped year.
Especially considering there's a distinct possibility that there will be no football in the 2010/2011 season.