The 49ers elected to extend their young slot wideout on a two-year deal this week.
The San Francisco 49ers announced the news of one receiver extension this week, as they re-signed Jauan Jennings on a two-year deal worth up to $15.4 million with $10.5 million guaranteed.
Jennings, a seventh-round pick in the 2020 NFL Draft, had emerged as the team’s starting slot receiver over the last two seasons, catching 19 passes for 265 yards and a touchdown in 2023.
He had a marquee game in the Super Bowl, catching four passes for 42 yards and a touchdown, while throwing for a score of his own, but the 49ers lost 25-22.
Now that Jennings is locked up until 2025, what does that mean for Brandon Aiyuk and the rest of the 49ers receiver room?
Why extension?
A few were surprised by the 49ers choice to extend Jennings, given that the team drafted wideout Ricky Pearsall with the No. 31 pick and that the slot receiver was slated to play on the second-round tender worth $4.9 million this season.
But, the extension is well-warranted, as that $7-8 million annual range is the going rate nowadays for No. 3 receivers. You may remember that Kendrick Bourne signed a three-year, $24 million deal with the New England Patriots to be their slot receiver a few offseasons ago.
Jennings has been a crucial element to the 49ers offense, both as a blocker, where his tenacity has helped shape the identity of the team, and as a third-down receiving weapon, where he’s been extremely reliable in moving the chains.
The production in the box score may not be there, as Jennings caught 19 passes for 265 yards and a touchdown in 2023 after racking up 35 catches for 416 yards and a touchdown in 2022.
But, the value to the team was present, which is why the 49ers seemingly made a Jennings extension a priority this offseason, getting it done as OTAs began.
The extension will keep Jennings in San Francisco through his age-28 season, and he could end up being a more focal part of the offense as the years go along with potential change coming with the skill position players.
Admittedly, I wasn’t sure whether the 49ers would be the team to pay Jennings, given that he had good value on his initial contract for 2024 and that the team drafted not one, but two wideouts in the past draft.
But, he’ll be a part of the team’s future now, and his cap hit could even decrease this season, depending on how the 49ers structure his contract.
Implications for the WR room
Locking up Jennings means that one of the 49ers wideouts has a fairly safe future over the next few seasons.
But, what does this mean for Brandon Aiyuk, Deebo Samuel, and the rest of the receiver room?
For Aiyuk, this deal means virtually nothing, as he and Jennings play completely different roles on the offense, while the 49ers have remained steadfast that an extension is their top priority. Additionally, they’ve acknowledged that Aiyuk playing on the fifth-year option would be the choice if an extension isn’t reached somehow, meaning he’s not going anywhere.
Ultimately, I expect the 49ers to provide Aiyuk a significant receiver extension, keeping him as the team’s top option for the next few seasons.
Behind that is where things get tricky.
Initially, when the 49ers drafted Ricky Pearsall, it was unclear whether they viewed him best as a slot option or more on the outside, where he played in college. Pearsall’s ability to beat man coverage was a key factor, but it also seemed that he could translate best on the inside with his skillset.
Now, it appears San Francisco views Pearsall best as an outside option with Jennings locked up in the slot, which clouds the future of Deebo Samuel.
Samuel will be a 49er, it appears, in 2024 after the team didn’t find an enticing deal during the draft that would have made them better this season. But, beyond that, the 49ers may find it hard to justify keeping both Samuel and Aiyuk on the roster at high salaries, which leaves next offseason as the inflection point.
San Francisco purposefully elected not to touch Samuel’s deal this offseason, providing them more flexibility to move his contract in 2025, when he will be on a one-year deal.
With the investment to Pearsall, as well as the recent extension for Jennings, it appears the odd man out in the future may be Samuel based on the team’s cap situation and asset strategy.
Looking further down the roster, it seems that San Francisco will have Jacob Cowing in more of a reserve role early on with Jennings solidified as the slot for the future.
Initially, I expected Cowing to take over the Ray-Ray McCloud role, which could very well be the case, perhaps suiting him better for special teams work early in his career.
But, the opportunities should still be there, as McCloud saw the field a good amount still in 2023 in a variety of roles.
Overall, though, the 49ers gave Jennings a warranted two-year extension, keeping a part of their receiver core intact for the near future. That provides the team with some stability as they navigate some rough waters when dealing with contracts over the next 12 months.