Christian McCaffrey, the reigning Offensive Player of the Year, has signed a two-year extension with the San Francisco 49ers worth $38 million. The deal makes McCaffrey the highest-paid running back in the NFL with an average salary of $19 million per year.
McCaffrey had a breakout season in 2023, leading the league with 1,459 rushing yards and 14 touchdowns on the ground. He also added 564 receiving yards and seven receiving touchdowns. With this new contract, McCaffrey is now under contract with the San Francisco 49ers through the 2027 season.
The extension was negotiated by WME Football and guarantees all of McCaffrey's remaining base salaries in 2024 and 2025. The deal also includes $8 million more for McCaffrey.
McCaffrey was acquired by the San Francisco 49ers from the Carolina Panthers at the trade deadline in 2023. Since then, he has been a key contributor to Kyle Shanahan's offense and has helped extend the team's championship window.
The running back position has had a rough go of things on the open market in recent seasons, but paying a going rate for a player as vital as McCaffrey makes sense for the San Francisco 49ers. The team is known for awarding large signing bonuses prorated against the cap to open up short-term space.
Brandon Aiyuk, another key offensive player for the San Francisco 49ers, is not reporting to mandatory minicamp due to contractual reasons and will be subject to fines for missing it. The team has a high rush success rate (46.4%) and an Expected Points Added per carry of 0.03, ranking first and third in the league respectively.