Your mock contract is wrong on multiple levels, which shows your misunderstanding of the cap. First, his contract is 7 years, not 6. He’s rumored to be signing a 6 year extension, which would consolidate with his current 1/9.4 million dollar contract to create a new 7 year deal officially on the books. Secondly, it’s impossible to be free of dead money after 3 years because signing bonuses prorate over 5 years.
You’re “ballooning” of his contract is also misguided. You’ve described the cap as if it’s a static environment that doesn’t change. It’s not, it’s dynamic. The cap goes up by about $10 million every year. If his cap number goes from 5 this year to 8 next year, you still have an additional $7 million next year from natural increases, not including rollover, money coming off the books from FAs, and cuttable contracts.