San Francisco 49ers wide receiver Jauan Jennings has long been a key contributor in head coach Kyle Shanahan's offense. That role is expected to expand in 2025. With Deebo Samuel now in Washington and Brandon Aiyuk still recovering from ACL and MCL injuries sustained in October, Jennings and second-year wideout Ricky Pearsall are projected to be the team's Week 1 starters against the Seattle Seahawks.
Jennings is entering the final year of a two-year, $15.4 million contract signed in 2024, prompting speculation that the 49ers may explore a contract extension before the deal expires.
Of course, Jennings will weigh what's best for his future. With increased opportunities in 2025, he could be setting himself up for a more lucrative payday in 2026 by waiting.
According to Spotrac's market value tool, Jennings' projected value stands at approximately two years, $20.08 million—an average of just over $10 million per year. That projection is based on his increasing impact within the 49ers' offense.
A breakout season
Jennings is coming off a breakout 2024 campaign, nearly reaching the 1,000-yard mark for the first time in his career. He posted career highs with 77 receptions for 975 yards and six touchdowns.
His 83.7 Pro Football Focus (PFF) receiving grade was also a personal best, and 47 of his catches resulted in first downs—second-most on the team behind only George Kittle (50).
The "go-to" guy with a WR1 mentality
Jennings is widely regarded as a reliable third-down target for quarterback Brock Purdy. PFF even named him the 49ers' most underrated player heading into the 2025 season.
"Jennings came into the 2024 season facing a crowded depth chart in San Francisco," PFF analyst Jonathon Macri wrote, "between Brandon Aiyuk, Deebo Samuel, and even 2024 first-round pick Ricky Pearsall, not to mention the added target competition of George Kittle and Christian McCaffrey.
"Despite all odds, Jennings established himself as a top option on offense, ranking in the top 20 in PFF receiving grade (83.7), receptions (77), and yards per route run (2.26) in the regular season among qualifying wide receivers. Thanks to his most recent season, the former seventh-round pick is now in a prime spot to continue his stellar play in 2025."
Offensive coordinator Klay Kubiak has even stated that Jennings is ready to embrace the WR1 role and workload.
"Yeah, I think, if you ask Jauan, he says, 'I'm number one,'" Kubiak stated last month. "And that's his mindset, and that's why we love Jauan. That's how he sees himself. He sees himself as a dominant player. I think you guys all saw last year when he got more chances, he played really, really well. So really fired up about Jauan."
Jennings' contract future
There's no question the 49ers would love to retain Jennings long-term, envisioning a dynamic trio of Aiyuk, Jennings, and Pearsall for years to come. But would $10 million annually be enough to get a deal done?
Grant Cohn of Sports Illustrated recently shared that it might take an average of at least $15 million per season to lock in Jennings for the long term, and the 49ers might see that figure as too much. If true, the team could be faced with a tough decision involving one of its most physical and productive offensive players.
Jennings' 2025 cap hit is just $4.26 million, making him one of the best values on the roster given his expected production. Despite undergoing a significant roster overhaul this offseason, the 49ers still managed to extend Kittle and linebacker Fred Warner while making Purdy one of the NFL's highest-paid players.
Could Jennings be next? If the 49ers want to lock him in at a reasonable price, now may be the time, before his value climbs any higher. Whatever happens, Jennings looks to once again be on track for a nice pay raise—from someone.