Would you post your symptoms also? And age?- since degenerative changes are mentioned.
It might help some of us to tie the MRI results with the symptoms.

39 years of age.

I had been having some symptoms of carpal tunnel syndrome in my left wrist, pretty consistently for the past 8 years...I suffered a pretty rough soccer injury about 3-4 months ago and began to get these bilateral paresthesias in both arms and hands during the night...My neck remained sore and my ROM was decreased but I wasn't in any real pain/discomfort...About 6-8 weeks ago, the symptoms became more consistent with the paresthesias and my neck seemed to actually feel better, i.e. ROM...However, the area of my ROM that seemed to be reduced was in extension/hyperextension of my neck.

I proceeded to let my PMD know of these symptoms and that led to the X-Ray and MRI.

I received the results and was prescribed PT and the thinking was that the best case scenario was that this would 'solve' my problems...PT has started with some neck exercises and back exercises (Apparently, I have a pretty stiff back)...The therapist also was doing some minor traction, manually...Since PT has begun, my sleep has gotten worse (Waking up with numbness in either arm as I tend to sleep fetal position) and my neck seems to constantly be sore/achey (Probably due to PT?).

I just read this MRI and I see Cord compression and think this can't have a good prognosis.

Not sure what I'm looking at, particularly longterm and in terms of sports.