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Presumably Cows definitely don’t want him beyond that 2 years, so if he stays his contract value will plummet.Because he's on $800k for 2 more seasons, he wants to play at the Roosters, but will play for Flanno for more, supposedly $900k...
That suggests we'd need $1m a season if we're interested
It’s also likely he’ll receive a payout if he leaves Cows now. Certainly not $1.6m but likely enough to allow leeway in a new clubs contract.
In fact I highly doubt whoever signs him is going to be paying him $800k/yr. What will happen is they’ll be paying him for longer than 2 years. Holmes will back himself to stay relevant for a few more years and maybe transition that $1.6m over 2 years into maybe $2.4m over 4 years say.