According to JoeBucsFan and Roy Cummings of the Tampa Tribune, Eric Wright's restructured contract contains no guaranteed money. This means the Buccaneers can release him at any point before the start of the season and owe him no additional salary.
This is obviously a good situation for the Bucs, who have no real obligations towards Wright if he messes up, gets suspended or simply performs poorly during the preseason. On the other hand, I have no clue why Wright would sign this contract. He compares favorably to most free agent cornerbacks that were available this offseason, and quite a few teams could still use a cornerback and would likely be willing to shell out at least some guaranteed money.
As it stands, the Bucs could trade for Darrelle Revis and then release or trade Wright. This is reasonably unlikely, though, as the Bucs need Wright, who is the only starting caliber cornerback on the roster right now.