While that's true, it can also help us have a lower price per year potentially on the contract, and also help us compete with any really large offers that may come in, too. Anyone wanting to compete with our offer will have to pony up a monstrous amount of dough, or commit themselves to a 5 year contract, too.
I think it's a risk well worth taking. I'm not a massive fan of the 5 years, either... but I think a lot of the risks with it - i.e player dropping in form or losing interest - won't really apply here. It's not like he's playing for a new contract now, and the guy has always said he wants to be here for life. Other factors motivate Jarrod Mullen besides money, and that's rare and precious in a footballer these days. Injury could screw us over, but you could say that about any length contract at any time, really... and Mullen has proven himself remarkably resilient, willing to play with injury time and time again... and heals faster than any human reasonably should, too.