Source: Brock Purdy, 49ers finalizing five-year, $265M NFL contract extension

Brock Purdy, who set all-time franchise marks in his first full season as the 49ers' starting quarterback, is establishing another team record.The 49ers and Purdy are finalizing terms on a five-year, $265 million contract, a source confirms to NBC Sports Bay Area. The deal catapults him from one of the lowest-salaried players on the team to one of the highest-paid players in the entire NFL.Purdy, 25, will earn $181 million in guaranteed money, ESPN's Adam Schefter reported, citing a source.Purdy's new contract keeps him with the 49ers through the 2030 NFL season, and San Francisco should announce the deal next week, a source told NBC Sports Bay Area.Purdy's deal is the richest contract in 49ers history, surpassing the five-year, $170 million extension defensive end Nick Bosa signed in 2023.At $53 million annual payout, the new deal also places Purdy among the top-paid players in the game.Dallas quarterback Dak Prescott last year signed an extension that pays him $60 million per season. Buffalo's Josh Allen, Cincinnati's Joe Burrow, Green Bay's Jordan Love and Jacksonville's Trevor Lawrence make $55 million annually.Purdy's pay raise is dramatic after he made a total of $2.6 million in his first three seasons after being selected with the 262nd and final pick of the 2022 NFL Draft after being a four-year starter at Iowa State.He was not eligible for a new contract until after the final game of his third NFL season.And at that point, 49ers general manager John Lynch and coach Kyle Shanahan left no wiggle room with their intention of signing Purdy to a lucrative extension."What we know about Brock is he's our guy," Lynch said upon the conclusion of the season. "We have interest in Brock being around here for a long, long time."Shanahan said he hopes he never has to coach another starting quarterback while with the franchise."I've loved these three years with Brock," Shanahan said. "I plan on being with Brock here the whole time I'm here."Purdy's deal is the second significant contract extension the 49ers have executed this offseason. The 49ers locked in tight end George Kittle to a four-year, $76.4 million deal through the 2029 season on April 29. Kittle again becomes the highest-paid tight end in the NFL.The 49ers enacted a cost-cutting strategy at the beginning of free agency in order to clear the path for the expected contracts for Purdy and Kittle. The 49ers could also seek a new deal for All-Pro linebacker Fred Warner.The first days of the new league year saw a huge roster turnover that included the departures of wide receiver Deebo Samuel, linebacker Dre Greenlaw, and defensive backs Charvarius Ward and Talanoa Hufanga.The 49ers finally added some significant pieces to their roster with an 11-player draft class, highlighted by the selection of Georgia defensive lineman Mykel Williams at No. 11 overall.Kittle's contract signaled that the 49ers were serious about their commitment to keeping one of their top players and leaders of the Lynch-Shanahan regime.The new deal for Purdy is another move that is certain to be viewed as a positive development within the team.Purdy is coming off a 2024 NFL season in which he completed 65.9 percent of his passes for 3,884 yards and 20 touchdowns with 12 interceptions in 15 games. Purdy had a passer rating of 96.1 and ranked seventh in the NFL with a QBR of 67.9.He experienced a reduction in his numbers from 2023, when he finished fourth in the voting for NFL Most Valuable Player.In 2023, Christian McCaffrey and Brandon Aiyuk were healthy, and Samuel had a more-productive season. Purdy led the NFL with a 113.0 passer rating. He set the 49ers' single-season record in that category, as well as with his 4,280 yards passing.In 36 career regular-season starts, Purdy has a 104.9 passer rating. He does not have enough games to qualify for the all-time lead. Aaron Rodgers and Patrick Mahomes rank atop the career leaders with ratings of 102.6 and 102.1, respectively.Purdy began his rookie season as No. 3 on the team's depth chart behind Trey Lance and Jimmy Garoppolo. After injuries to both men, Purdy found himself on the field in the first quarter of the 49ers' Week 13 game against the Miami Dolphins.He has been considered the 49ers' starter ever since.The 49ers won the final six games of 2022 with Purdy at quarterback. Then, he played well in two playoff victories before sustaining a torn ulnar collateral ligament in his right elbow in the NFC Championship Game against the Philadelphia Eagles.Following offseason surgery, Purdy was ready for opening week in 2023. The 49ers traded Lance, the No. 3 overall pick in the 2021 NFL Draft, to the Dallas Cowboys for a fourth-round draft pick as a show of confidence in Purdy.Purdy engineered second-half comeback victories over Green Bay and Detroit in the playoffs to advance to the Super Bowl against the Kansas City Chiefs in Las Vegas. The 49ers took the lead twice in the fourth quarter and once in overtime before losing, 25-22, to Mahomes and the Chiefs in Las Vegas.In signing Purdy to a long-term extension, the 49ers are showing a belief that he has what it takes to help the franchise snap a Super Bowl drought that has extended for more than three decades."Brock's been a stud," Shanahan said. "He's a guy I've got a lot of confidence in just as a human. But it starts with what he's done in the field these last two and a half years."And we're capable of winning a Super Bowl with him. We just almost did. And I know he is capable of getting the Niners a Super Bowl in the future."

Source: Brock Purdy, 49ers finalizing five-year, $265M NFL contract extension

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49ers sign Brock Purdy to a five-year, $265M contract extension

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