Albert Belle's contract was almost 30 years ago. It would be silly to hold that up as some shining example, since it was probably the last time JR paid top dollar for a premiere FA. It is the outlier, and not JR's norm.
We don't know when, or if, Jerry will approve of a higher overall budget again either. History up until the past few seasons suggests he will, but with the Ishbia news, Jerry very well might want to keep payrolls low as team control changes hands. None of us know how he will operate for the next few years.