Nope, 100% wrong. The short, exaggerated for humor timeline is roughly:
Packers: Hey Jared, nice job. We would like to offer you a contract of 3 years, 21 million.
Cook's Agent: NO! MORE MONEY NOW!!!
Packers: Seriously, this is a pretty nice contract.
Cook's Agent: WE WILL CONSIDER SIGNING WITH YOU FOR 1 BILLION DOLLARS! (Doctor Evil Picture here)
Time passes, other free agent tight ends are signing, leaving the Packers with fewer options.
Packers: Hey, Martellus Bennett, we could use a tight end. How does 3 years, 21 million sound? 6.3 million as a signing bonus.
Martellus Bennett runs to sign, faster than a fat kid at and all you eat buffet.
Cook Agent: Wait, what now?
Cook's agent is left scrambling.
Cook's agent: Hey, Jared, so, the market isn't playing out like I expected. Here's the best offer I got.
Jared Cook: Excuse me? 2 years, 10.5 million? Why didn't we sign with the Packers. They offered us more!
Cook's agent: Well you see, market factors, blah blah blah.
Jared Cook: Fine, I'll sign, but once I do...YOU. ARE. FIRED.
Cook's Now-Former Agent:
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.....AND SCENE!