Jennings gets his money while the 49ers get to spread out his signing bonus
The San Francisco 49ers rewarded Jauan Jennings with a two-year contract worth $15.39 million, including $10.54 million in guarantees, including $8.43 million fully guaranteed at signing. The cherry on top for Jennings was receiving $6.21 million at the time of signing.
Over the Cap has the specifics for Jennings’s contract. His cap number in 2024 is $2.77 million thanks to a $1.05 base salary, prorated signing bonus, and per-game roster bonus. How is Jennings signing bonus under three million when it’s a two-year contract? Well, the 49ers again found a way to manipulate the salary cap.
Jennings is signed through the 2025 season, but his contract has void years through 2029. That allows the 49ers to spread Jennings signing bonus through the 2028 season at $1.24 million, despite 2025 being the last year Jennings’s contract has guaranteed money.
If San Francisco wants to keep Jennings around after 2025, they’d likely re-work his deal. He will turn 29 that season, but his cap number will quadruple to $8.29 million. That’s not a lot for a top receiver, but we’re talking about a WR4, assuming the draft picks from this year pan out at wideout.
So, Jennings is on the books for two more seasons, but the Niners “cooked” the books to manage his cap hit and make it appear like he’s under contract through 2029.