Three days later, McCoy has hit the trade market. The 49ers have have engaged in trade talks regarding their backup quarterback, people informed of the talks told NFL.com's Ian Rapoport on Sunday. McCoy restructured his contract to a lower base salary Saturday, making it more likely that he will not be released.
On the other hand, it wouldn't come as a shock if McCoy stirs up little genuine trade interest around the league. He's fallen far since his semi-promising rookie season. The 49ers can't expect more than a late-round draft pick in return.
UPDATE: Harbaugh said after Sunday's 34-14 preseason victory that he feels "real good right now" with McCoy as his No. 2 quarterback. It's the exact posture a head coach can be expected to take if he's trying to build value in trade talks. Of course, the team did accomplish its mission in convincing McCoy to accept a pay cut. As usual, the 49ers are one step ahead of the game.