First rule of business: Nothing is guaranteed, every year, on and on. Nothing. Take the money and run.
some things are guaranteed in business. NBA and CEO contracts are guaranteed.
If he planned on competing for another 5 years, the old contract was a safe one.
IF he planned on competing one year and moving on (as I believe), then a million this year, similar next year, and a big part of a growing company might be the wiser move.
The moment I heard he doubled his payday for a BRAND NEW COMPANY and started an involved role in a STARTUP, I said "Woah, he's retiring, and soon!"