Getty San Francisco 49ers WR Brandon Aiyuk
The San Francisco 49ers have sent a new contract offer to Brandon Aiyuk, but it still may not be enough to lock him down, according to the San Francisco Chronicle’s Mike Silver. Aiyuk’s contract saga has been the top talking point of the 2024 offseason as the Niners figure out the future of their offense.
Aiyuk is coming off the best season of his NFL career. Speculation and projections have varied, but according to Silver, the latest offer would make him one of the NFL’s highest-paid WRs.
“I’m hearing their offer is in the $26 million range, which certainly is not Justin Jefferson money — nor should it be — but it’s closer to that of DeVonta Smith, Amon-Ra St. Brown, that next tier down,” Silver said on KNBR.
The salary cap situation for the 49ers is difficult, as it always is for Super Bowl contenders. Building a trophy-worth roster is one thing, but keeping it together for the long haul is the real challenge.
But with 49ers RB Christian McCaffrey getting an extension (more on that below) it seems San Francisco is willing to splash the cash. It’s just a matter of getting to a number that Aiyuk will accept.
Highest-Paid NFL WRs
Minnesota Vikings WR Justin Jefferson recently set the bar for WR contracts when he got a deal worth $35 million, clearing the second-highest biggest deal by about $3 million.
That deal belongs to Philadelphia Eagles star A.J. Brown. Brown and Jefferson are two of four players who are in the “$30 million club,” with St. Brown, of the Detroit Lions, and Miami Dolphins star Tyreek Hill rounding out the group by averaging $30 million a year, according to Over the Cap.
This is where Aiyuk starts to enter the picture. While he may expect an AAV over $30 million, realistically, the 49ers will do everything they can to stay under that.
The offer Silver reported is some ways off and would make Aiyuk the seventh highest paid wide receiver. That’s a big raise and an honorable spot, but the value of WRs has skyrocketed over the past five years. Going forward, that will probably continue.
So from Aiyuk’s perspective, it’s not about getting a deal that pays appropriately for 2024. It needs to be one that continues to reflect his value as a top receiver.
49ers RB Christian McCaffrey Signs New Extension
With all the talk around Aiyuk, McCaffrey’s extension did come out of the blue. The 2023 Offensive Player of the Year has been a revelation for San Francisco, and on June 4, the Niners handed him a two-year, $38 million extension.
The deal keeps McCaffrey in San Francisco until 2027, but it does drastically impact the team’s cap space. In fact, OTC states that McCaffrey will only count as a $6.7 million cap hit in 2024.
In 2025, the number only increases to $9.8 million. The deal is severely back-loaded, as the 2027 year counts as a $27.5 million cap hit and 2028 is a void year that will have a $14.9 million hit.
It creates questions for the 49ers down the road, but it ensures that the team’s top player is around while the Super Bowl window is open.