49ers' Christian McCaffrey gives unprecedented agreement expansion worth $38 million up two years
SANTA CLARA, Calif. -- Running back Christian McCaffrey, the NFL's reigning Offensive Player of the Year, has reset the running back market for the second time in about four years, signing a two-year contract extension with the San Francisco 49ers.
The Niners announced the deal (but did not disclose financial terms) on Tuesday afternoon, not long after sources told ESPN's Adam Schefter that the deal -- which averages $19 million over the two added years -- was done.
In addition to the two extra years (2026 and 2027), the Niners added $8 million over what McCaffrey was scheduled to make in 2024 and 2025 while adding $24 million in guarantees, the sources told Schefter. WME negotiated the contract, which follows the 2020 pact he signed with the Carolina Panthers which also set a record for running back compensation.
After the 49ers completed the first day of their mandatory minicamp, a relaxed McCaffrey made it clear how much it means to him to continue raising the bar at his position.
"I think it's really important," McCaffrey said. "I think running backs have been undervalued for a long time now and hopefully this is a step in the right direction."
McCaffrey returned to the 49ers on Tuesday after skipping out on the voluntary portion of the offseason program. While coach Kyle Shanahan had previously declined to explain why McCaffrey was absent and pointed out that organized team activities were voluntary, there had been discussions between the sides about extending McCaffrey's deal as a means to reward him for his impact since he arrived at the trade deadline in 2022.
Christian McCaffrey was the highest-paid running back in the league on Monday and he stretched out his lead over the rest of the league after signing a two-year extension with the team on Tuesday.
The deal keeps McCaffrey under contract through the 2027 season and he said at a press conference later on Tuesday that he is “really fired up to be staying” with the team. McCaffrey said his first two years have been “an amazing experience,” but added that his good feelings go beyond what it means for him.
McCaffrey was asked about the significance of helping to raise the compensation bar for others at the position.
“I think it’s really important,” McCaffrey said. “Running back’s been undervalued for a long time now. Hopefully this is a step in the right direction.”
It remains to be seen how much of a trickle down effect McCaffrey’s deal has on the rest of the league, but movement at the top generally helps pave the way for other contracts so the 49ers may not be the only ones celebrating McCaffrey’s windfall this week.