That's fine, but the player assumes the risk of being traded and that may not get him what he really wants.
If it's recognition for great play then we should see everyone on one year contracts. there is risk both ways on a long term football contract. If a player has a great year, then he could get a better contract the next year on a one year contract. If it is a long term contract and the players game falls off, then the owners get screwed.
The knife cuts both ways. By getting and honoring a long term contract the player gets a form of monetary insurance and the owner gets a form of performance insurance. Once a player tries to renegotiate they may be unpleasantly surprised at the outcome. Tough ****, it was their call and they can reap the rewards or losses of their decision.
At the income levels in the NFL, I have little sympathy for the players attempts at "price gouging". You wouldn't accept that at the gas pumps so why support it in the sports arenas of the NFL?