Ah, yes, the Omar Minaya Special... Jason Bay's deal was exactly like this, paying him $6.5 million in his first year, but $16 million each year after that.
I know Sandy Alderson has said he's open to this idea, but I don't think it's how he would prefer to do business, because it restricts future budgets and limits flexibility, which seems really important to him. Basically, I get the sense he thinks it's bad business and, frankly, his is not an unpopular position around baseball these days. In fact, I've heard the MLBPA now frowns on backloaded deals because it so often leads to bad, unpopular situations between players, teams and fans at the end of those contracts. That said, I bet Wright would be open to it, especially if it means getting another bat in the lineup to help him drive in runs.