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If he's cut or traded, it's a $16 million cap hit for 2019.
If he's cut or traded after 2019, it would be an $8 million cap hit for 2020. Signing bonuses are accelerated so the cap hit is in the immediate year.
While it would be a $16 million cap hit still in 2019, that saves $10.5 million for them still - which would be a lot for a backup QB.
A team trading for him would have his $18.5 million salary in 2019, a $20.25 million salary in 2020, and a $24.25 million salary in 2021. None of those would be guaranteed, but all of them are likely more than teams would want to pay. Maybe a desperate team would give a late round pick, figuring to cut him or renegotiate after 2019 - but I doubt it.
If he's cut or traded after 2019, it would be an $8 million cap hit for 2020. Signing bonuses are accelerated so the cap hit is in the immediate year.
While it would be a $16 million cap hit still in 2019, that saves $10.5 million for them still - which would be a lot for a backup QB.
A team trading for him would have his $18.5 million salary in 2019, a $20.25 million salary in 2020, and a $24.25 million salary in 2021. None of those would be guaranteed, but all of them are likely more than teams would want to pay. Maybe a desperate team would give a late round pick, figuring to cut him or renegotiate after 2019 - but I doubt it.