Underhill: I think everyone involved knows Carr cannot play this year at his current salary

There is exactly one reason Carr will agree to a contract that pays him less this year, and that’s if the alternative (cutting him) would likely result in him making less money in the long term. That’s how negotiations work.

He’s not taking a pay cut to help the team’s cap space. He can be restructured (aka kick the can down the road) if the goal is only to reduce his cap hit this year.
That is exactly what Underhill said on his podcast yesterday. He thinks Carr is going to have to take a pay cut. That while Carr does have some leverage because of the teams finances, the amount of teams that need QBs and the particular QBs that will be available will make it very difficult for Carr to make even what he would after a pay cut. Especially considering the offset language in his contract. What we should be looking for is a $10 million+ pay cut because he won't see that anywhere else.