This is not from me, but another message board. Perfectly stated in my mind
************
Cutting Trubisky would have cost them $2.65M in guaranteed [dead] money, but saved his $8M salary.
But, of course, that is not how PIT does business. So they extend him, which likely makes the vast majority of that $8M guaranteed, but now you've tacked on additional years that may be reasonable (hopefully no guaranteed money).
Doesn't make a lot of sense after signing Rudolph. But I'll wait until I see the full terms of the deal. I think Rudolph is garbage and gives you 0 chance to win a game with his arm. Trubisky might not be good, but every once in a while he can sling it impressively. He gives you a chance to win games you have no chance with Rudolph. On the flip side, Trubisky might be reckless and cost you some games you might win with Rudolph as a game manager.
I suppose it's conceivable that, after signing Rudolph, Trubisky did the math on being cut or even a FA next year....and decided he's unlikely to beat say $16M over 3 years this deal might be worth.
And with both of these deals, PIT has a shot to essentially trade some cap for draft picks if the right opportunity presents itself. Seems a bit of a reach, but until they find a bonafide franchise QB they will struggle to spend their cap. Even if that's Pickett, such a deal is 2-3 years away.