It was a matter of “when” and not “if” the San Francisco 49ers would negotiate a contract extension with Christian McCaffrey, but the news finally came on Tuesday: The CMC reset the running back market with a big bump up against an already league-leading salary, paying McCaffrey an average annual salary of $19 million in the new deal.
Last year’s Offensive Player of the Year winner, Christian McCaffrey, once again reset the running back market by signing a two-year contract extension with the 49ers at an average annual salary of $19 million, per source.
McCaffrey will receive an additional $8 million on top of what was due in his original contract. pic.twitter.com/1AythHhGL3
— Adam Schefter (@AdamSchefter) June 4, 2024
McCaffrey had two years remaining on the extension he signed with the Panthers in 2020, an early signing on his rookie deal. The new deal reduces McCaffrey’s base salary by $1.21 million, a significant cap saving. The deal was likely done to push back the signing bonus and free up space for the 49ers to work on Brandon Aiyuk’s long-awaited contract extension.
McCaffrey, meanwhile, will make $8 million more than he did before and will also get more guaranteed money — a win-win deal that keeps the 49ers’ most important offensive player under contract until age 32 while not sacrificing much future cap space.
Even at a hefty $19 million per RB, there’s no doubt that CMC is worth every cent of this new contract extension. He’s the most important non-quarterback offensive player in the NFL and is the focal point of every drive, especially in Kyle Shanahan’s offense. His all-around ability to both catch passes and hit home runs opens up opportunities for quarterbacks and takes a lot of pressure off having to have a playmaker at the position.
While this extension won’t affect many running backs over the next few years, it will affect the next round of extensions for the front-runners coming off their rookie deals, including Travis Etienne of the Jaguars, Breece Hall of the Jets, Bijan Robinson of Atlanta and Jameel Gibbs of the Lions. Barring major issues, these players will likely be looking for similar amounts to their CMC contracts as NFL payrolls balloon with the expanding salary cap.
Not bad for a guy who was once labeled “too small” for the NFL and whose pre-draft reports raised concerns about whether his small frame would hold up in the rigors of the pros.
