This will blow up in Bellator's face when having to negotiate with future fighters.
Imagine Michael Chandler, when his contract comes up for renewal. He's the champ and Alvarez is likely going to be making 10x what he is.
If I were Bellator, I'd let Eddie walk and start brand new with Spike. They've already got the guy that beat Eddie under contract.
It's not like Eddie was able to make Bellator's ratings spike over the last few years. It feels like they're just trying to let the UFC know that they are not going to back down anymore. Sucks for Eddie as he's caught in between. At least he will get paid.
I always find it odd though that guys who pass on signing with the UFC usually get stuck in horrible contracts...Alvarez, Bibiano, Hieron, a lot of the Strikeforce guys