Earlier this week, ESPN's Adam Schefter reported that San Francisco 49ers wide receiver Jauan Jennings is unhappy with his current contract and could request a trade if a new deal isn't reached. Jennings is entering the final year of the two-year extension he signed in 2024.
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The 49ers appeared to avoid offseason contract drama by locking up key players—Brock Purdy, George Kittle, and Fred Warner—early. But that streak ended with the news that Jennings is now seeking an extension of his own.
Jennings' role is more crucial than ever in 2025
With Deebo Samuel now on the Washington Commanders and Brandon Aiyuk still rehabbing ACL and MCL injuries suffered in October 2024, Jennings is positioned to be San Francisco's top wideout in 2025. His importance to the offense has never been greater.
NBC Sports Bay Area's Matt Maiocco, speaking on KNBR this week, expressed confidence that Jennings and the 49ers will reach an agreement—despite the recent developments.
"My eyes kind of went to that very first practice that we were allowed to watch—is number 15 out here?" Maiocco said. "And not only was he out there on the field practicing, frankly, he was dominating. He looked really, really good."
Maiocco saw that as a positive sign that Jennings and the 49ers were in a good place regarding the receiver's contract situation, and that a holdout might not be imminent.
However, the situation quickly changed.
"Well, the last few practices, including the mandatory minicamp, he did not practice," Maiocco continued. "[Head coach] Kyle Shanahan termed it as a calf injury, which ironically enough—or coincidentally enough, I should say—that's the same, quote unquote, ailment that Brandon Aiyuk had while he was going through his hold-in.
"So it makes sense that Jauan Jennings and his representation, Drew Rosenhaus, would angle for a new contract, and they have the right to do so. The 49ers also have the right to say, 'Hey, look, we just signed you to a two-year deal last year, and we paid you probably over market value a year ago, and now you're under market value. But that's just the way it is.'"
Trade demand unlikely to materialize
Despite Schefter's report of a potential trade request, Maiocco doesn't believe things will escalate to that level.
"My guess is that it will never come to a trade," he said. "The 49ers have held firm with everybody who's asked for a trade, that they didn't want to trade. ... So I don't think the 49ers are a better team—there's no possible way they could be a better team—without Jauan Jennings on it."
Maiocco expects both sides to find middle ground before the season begins.
"My guess is that they do get together on something," he said, "and it wouldn't be the kind of money that Jennings could get on the open market if he were to play out this season, bet on himself, and have the kind of year he did in 2024. So it'd be a little bit under that.
"But, it seems to me that that's the reasonable and logical solution for what he brings to the table in the passing game, heck, even in the running game as a blocker, that tenacity, that tone-setting mentality that he has.
"My guess is that they would come together on something that would make both sides happy and could continue this union into the future."
If a trade did happen, what could the 49ers get?
If the 49ers did entertain offers, Maiocco believes the return wouldn't be enough to justify the move. Not only would an interested team have to compensate Jennings financially, but it would need to compensate the 49ers to acquire the wideout.
"I don't know that it would be a huge package that would make it worth the 49ers' while," Maiocco said. "So that's why I just don't think it makes sense for them. If they just wanted to play this thing out, they could have him play out this year, and then, if he signs somewhere else and gets a big-money deal, then the 49ers could probably get as much or more in a compensatory pick."
You can listen to Maiocco's entire interview below.