49ers WR Jauan Jennings Valued Over $22 Million Amid Major Roster Shift

With Jauan Jennings poised for a major payday in free agency, the 49ers could face another key departure from their receiving corps this offseason.

Jauan Jennings Faces Uncertain Future as 49ers Head Into Offseason Shakeup

The San Francisco 49ers are staring down a pivotal offseason, and the wide receiver room could look very different by the time the NFL Draft rolls around. Brandon Aiyuk’s name has been at the center of trade speculation, but he’s not the only key pass-catcher who might be on the move. Jauan Jennings, the gritty, clutch receiver who’s carved out a niche in Kyle Shanahan’s offense, is officially an unrestricted free agent - and his future in red and gold is far from certain.

Jennings, drafted in 2020, has never worn another NFL uniform. But now, for the first time in his career, that’s a real possibility.

When asked about what comes next - including whether he’d be open to the 49ers using the franchise tag on him - Jennings kept things close to the vest, saying he’d leave those decisions to his agent. Still, it’s clear the Bay Area has left its mark on him.

“There’s nothing like Santa Clara,” Jennings said, reflecting on his time with the team. “When I first moved here, I thought I was going to San Francisco, just like everybody else.

You find out fast that it’s Santa Clara. Now it’s home.

It quickly turned into home. It’s a run I’ll never forget, for sure.”

It was a heartfelt moment - the kind of reflection that shows just how much the journey has meant to him. And it’s a journey that hasn’t always been smooth.

Last offseason, Jennings was at the center of a contract standoff. An injury during training camp raised eyebrows, with some wondering whether his absence was more about negotiations than health. Eventually, the team gave him an incentive-based bump, and Jennings responded the only way he knows how - by grinding.

Playing through multiple injuries, Jennings became one of the 49ers’ most reliable weapons on third down. He ranked second on the team in receiving yards and finished 17th in the NFL in third-down receiving yards. Even more impressively, he was ninth in the league in first-down receptions on third down - a stat that speaks volumes about his value in high-leverage situations.

That’s the kind of production that doesn’t always show up in highlight reels, but coaches and quarterbacks notice. Kyle Shanahan certainly did.

Last week, Shanahan praised Jennings’ competitive fire and toughness, traits that have defined his time in San Francisco. But even with that appreciation, the writing may be on the wall.

Sometimes, mutual respect doesn’t guarantee a reunion.

Jennings is set to turn 29 this offseason, and realistically, this is his best - and maybe last - shot at landing a big payday. The wide receiver franchise tag for 2026 is projected at over $28 million, a figure reserved for the elite of the elite.

That tier includes names like Ja’Marr Chase, Justin Jefferson, CeeDee Lamb, and Tyreek Hill. As valuable as Jennings has been in his role, the 49ers haven’t treated him like a top-tier WR1 - and that’s reflected in the structure of his past deals, which have leaned heavily on incentives and short-term flexibility.

If San Francisco truly viewed him as a cornerstone piece, they likely would’ve locked him in with a deal north of $15 million annually after their Super Bowl run in 2023. Instead, they extended a restricted free agent tender and kept his 2025 outlook tied to performance bonuses.

That opens the door for other teams to pounce - and there’s reason to believe they will. Spotrac projects Jennings could command a three-year, $67.8 million contract in free agency, with an average annual value of $22.6 million. That’s a hefty number, but not out of reach for teams flush with cap space and in need of reliable receiving help.

Take the Tennessee Titans, for example. They’ve got over $93 million in cap space, a head coach in Robert Saleh who knows Jennings’ game from his time in San Francisco, and a young quarterback still on a rookie deal. That’s the kind of situation where a team can afford to be aggressive in free agency - and where a player like Jennings could step into a bigger role, both on the field and in the locker room.

If that market projection holds true, the 49ers may have already seen Jennings suit up for them for the last time. It’s a tough pill to swallow for a team that’s leaned on his physicality, toughness, and clutch play in big moments. But this is the business side of football - and for Jennings, the timing couldn’t be better to cash in.

Whether he stays or goes, there’s no denying what Jauan Jennings brought to the 49ers: a relentless competitor, a third-down warrior, and a player who made the most of every opportunity. If this is the end of his run in Santa Clara, he’ll leave behind a legacy of grit - and the kind of impact that doesn’t always show up in stat sheets, but is felt in wins.