How much of a pay cut is Burrow talking?
Probably $0.
Just restructuring so it's more cap friendly, spreading out those dollars. If the Bengals pay the guys he wants to be on the team and they are at the cap limit, it's a smart thing to do.
If Joe trims/extends his take and the Bengals just pocket those funds instead of redistributing - then that would be bullshit. I can certainly see the Brown family trying that - but I think Joe is too smart to get swindled.