ESPN's Adam Schefter broke the news Wednesday night that the San Francisco 49ers had reached an agreement with wide receiver Jauan Jennings, adding $3 million in play-time incentives that could boost his 2025 earnings to $10.5 million.
Schefter appeared on The Pat McAfee Show on Thursday to discuss the situation, revealing that the 49ers had offered Jennings a multi-year deal. Still, the receiver chose the incentive-heavy one-year arrangement instead. This decision keeps Jennings on track to become a free agent in 2026.
"Basically, Jauan Jennings had wanted a new deal," Schefter explained. "He's going into the last year [of his current deal]. The 49ers offered a multi-year deal. He opted to take this particular arrangement, which is $3 million more of incentives this year, which could boost his salary to about $10.5 million—which is still, for a number one receiver, a great deal for the Niners."
"Jauan Jennings wanted a new deal and he opted to take this particular arrangement..
The 49ers did offer him a multi year deal but now he's gonna hit the free agent market next year"@AdamSchefter #PMSLive pic.twitter.com/WezlvB2ofX
— Pat McAfee (@PatMcAfeeShow) September 4, 2025
The gamble is clear: if Jennings has a standout season in 2025, he could price himself out of San Francisco's roster in 2026. Still, the 49ers invested heavily in Brandon Aiyuk, who continues to work his way back from ACL and MCL injuries suffered last season, and made Jordan Watkins a fourth-round draft pick.
San Francisco also hopes second-year receiver Jacob Cowing can overcome recent injuries to contribute this season. Additionally, the team offered a contract to veteran Kendrick Bourne, who is currently weighing his options.
RELATED Report: 49ers continue working on long-term deal for Jauan Jennings
On Thursday morning, general manager John Lynch said the 49ers are still working on signing Jennings to a long-term contract extension.
"Obviously, we couldn't come to an agreement on that right now, but that's not to say that's gone," Lynch said. "Some teams do have the policy, once you hit the season, they put all contracts away. That's not something we've done. We are going to kind of focus on going and beating Seattle right now, but we'll continue to try to work towards that."
Schefter added, "But if he (Jennings) balls out this year, he's going to crush it on the free agent market, and have a chance to really get paid. But I bring up this deal for tone because I wonder—I wonder—if the people in Pittsburgh are paying attention."
If Jennings delivers a big season in 2025, San Francisco could face tough decisions heading into free agency.