The restructured deal eliminates 2021, making McKinnon signed for just this year at the veteran minimum, plus roster bonuses, per Adam Caplan of SiriusXM NFL.
It was widely believed that McKinnon would need to restructure his contract to remain with the 49ers. He was set to count $8.55 million against the salary cap in 2020, according to Spotrac. Details of the restructured deal are not yet known.
McKinnon, 27, is entering his seventh NFL season but has not played the last two seasons after signing a four-year deal worth up to $30 million with the 49ers on March 14, 2018. He landed on injured reserve with a torn ACL before the start of the 2018 season and again before the start of the 2019 season after a setback in his recovery.
McKinnon underwent another procedure to repair the damage in his knee.
"There's a lot of good news about his knee," general manager John Lynch said in August, "but unfortunately, there was some mechanical issues that didn't allow him to play this year. That was rough because he worked so diligently to get back, and it was sad to see that not be able to take place."
The Minnesota Vikings made McKinnon a third-round selection out of Georgia Southern in 2014. He carried the football 150 times for 570 yards with three rushing touchdowns while adding 51 receptions for 421 yards with two receiving touchdowns through 16 games and one start with the Vikings in 2017.
McKinnon has 1,918 rushing yards on 474 attempts with seven rushing touchdowns through his four NFL seasons played (2014-17). He was initially meant to be the featured back within head coach Kyle Shanahan's offense but has not played a regular-season snap with San Francisco.
The 49ers owned the No. 2 rushing attack this past season, led by Raheem Mostert, Tevin Coleman, Matt Breida, and Jeff Wilson Jr.
Related News
More San Francisco 49ers News
-
49ers vs. Cowboys injury report: Deebo Samuel returns; 6 players miss practice
The San Francisco 49ers are preparing for their Week 10 contest against the Dallas Cowboys on Sunday at AT&T Stadium in Arlington, Texas. Wednesday was wide receiver Keenan Allen's first practice since being traded from the Indianapolis Colts to the 49ers. Keenan Allen... -
49ers vs. Raiders injury report: Christian McCaffrey returns to practice, others remain sidelined
The San Francisco 49ers are preparing for their Week 9 contest against the Las Vegas Raiders on Sunday at Levi's Stadium in Santa Clara, California. Running back Christian McCaffrey returned to practice Thursday after missing Wednesday's on-field session. He suffered a mild... -
49ers Threat Report: 3 Raiders Who Could Disrupt San Francisco in Week 9
The San Francisco 49ers return from their bye week, preparing to host the Las Vegas Raiders in Week 9. While San Francisco looks to regain momentum following its first loss of the season, Las Vegas presents several individual challenges that could make this matchup more... -
49ers vs. Cowboys injury report: 2 starting corners continue to miss practice
The San Francisco 49ers are preparing for their Week 10 contest against the Dallas Cowboys on Sunday at AT&T Stadium in Arlington, Texas. San Francisco's two starting cornerbacks, Deommodore Lenoir and Renardo Green, continue to miss practice with injuries. Lenoir is...