49ers’ Latest Contract Offer for Brandon Aiyuk Revealed…

The San Francisco 49ers have reportedly extended a new contract offer to Brandon Aiyuk, but it may still fall short of securing his commitment. Aiyuk’s contract negotiations have dominated the 2024 offseason discussions as the 49ers work to shape the future of their offense.

Aiyuk is coming off his best season in the NFL. While predictions have varied, San Francisco Chronicle reporter Mike Silver disclosed that the recent offer would position him among the league’s highest-paid wide receivers.

“I’ve heard their offer is around $26 million, which isn’t quite at Justin Jefferson’s level but is comparable to DeVonta Smith and Amon-Ra St. Brown, that next tier down,” Silver mentioned on KNBR.

The 49ers are navigating a tight salary cap situation, typical for Super Bowl contenders. Constructing a championship roster is one challenge; maintaining it long-term is another.

Despite this, with running back Christian McCaffrey recently securing an extension (details below), San Francisco appears willing to spend. The challenge lies in finding a number Aiyuk will agree to.

Highest-Paid NFL WRs

As noted, Minnesota Vikings WR Justin Jefferson has set a new standard for wide receiver contracts with his $35 million deal, surpassing the next highest deal by about $3 million, which belongs to Philadelphia Eagles star A.J. Brown. Along with Jefferson and Brown, Detroit Lions WR Amon-Ra St. Brown and Miami Dolphins star Tyreek Hill form the exclusive “$30 million club,” each averaging $30 million annually, per Over the Cap.

Aiyuk’s potential contract falls into this context. While he might hope for an average annual value over $30 million, the 49ers aim to keep the offer below that threshold.

The latest offer of $26 million would place Aiyuk as the 7th-highest paid NFL WR, a significant increase and respectable ranking. However, given the rapid rise in WR valuations over the past five years, Aiyuk needs a deal that will accurately reflect his value over time.

49ers RB Christian McCaffrey Signs New Extension

Amid the Aiyuk negotiations, Christian McCaffrey’s extension came unexpectedly. The 2023 Offensive Player of the Year, crucial for San Francisco, received a two-year, $38 million extension on June 4, keeping him with the team until 2027.

This extension affects the team’s cap space, with McCaffrey’s cap hit in 2024 at $6.7 million, increasing to $9.8 million in 2025. The deal is heavily back-loaded, with a $27.5 million cap hit in 2027 and a void year in 2028 with a $14.9 million hit.

This raises future financial questions for the 49ers but secures their top player during their Super Bowl contention window.