Is that worth another year of college?
I don't know the details of his contract, but I'm sure Italy knew what his options were and Eric's BATNA was weak. (Best Alternative to a Negotiated an Agreement).
If your earnings went from 75k out of College to 125k out of college because you did a MBA or Masters, would you do it?
Eric's situation was probably more obvious and more simple..but I think his vision was short-sighted.