Yes. That's why I disagree with you that Jimmy holds all the cards. The only leverage he has is to to negate any trade he doesn't like but that won't prevent his taking a pay cut. He cannot force the 49ers to keep him @$25mil by refusing trades because because he doesn't want a pay cut, but in fact if he tries to force the 49ers to keep him at $25 mil to not take a pay cut, he risks their cutting him and he loses money. He in theory can hold out to not be traded or not be traded to this team or that team, but that doesn't prevent him from losing money if it leads to his being cut.
Just commenting on your idea that Jimmy can avoid taking a pay cut by negating a trade by refusing a trade.