When news broke that the San Francisco 49ers were signing wide receiver Jauan Jennings to a two-year, $15.39 million deal, replacing his one-year tendered offer of $4.89 million, many wondered how this would impact the team's salary cap for 2024. The prevailing theory was that void years would be incorporated into the contract. That was confirmed to be the case by OvertheCap.com.
Void years are one of several methods to manipulate the salary cap. They are a mechanism used to spread a player's signing bonus or other guaranteed money over a longer period for salary cap purposes without extending the player's actual commitment to the team. This allows teams to manage their salary cap more flexibly in the short term. However, this strategy can be risky if overused, as it can lead to situations where teams are paying for players no longer on their roster.
Jennings' new deal includes $8.435 million in fully guaranteed money. By incorporating void years into the contract, the 49ers have effectively reduced his immediate cap hit. The wide receiver's 2024 cap hit has been lowered from $4.89 million to $2.77 million, achieved through a combination of a reduced base salary and spreading the bonus impact over multiple years.
OverTheCap.com has the contract details, which are broken down below.
2024
Base salary: $1,055,000
Prorated signing bonus: $1,242,000
Prorated option bonus: $0
Total per-game roster bonus: $625,000
Workout bonus: $0
Guaranteed salary: $1,055,000
Salary-cap number: $2,774,941
2025
Base salary: $1,170,000
Prorated signing bonus: $1,242,000
Prorated option bonus: $1,121,000
Total per-game roster bonus: $625,000
Workout bonus: $100,000
Guaranteed salary: $1,170,000
Salary-cap number: $4,258,000
2026
Base salary: Void
Prorated signing bonus: $1,242,000
Prorated option bonus: $1,121,000
Salary-cap number: $8,299,000
2027
Base salary: Void
Prorated signing bonus: $1,242,000
Prorated option bonus: $1,121,000
Salary-cap number: $0
2028
Base salary: Void
Prorated signing bonus: $1,242,000
Prorated option bonus: $1,121,000
Salary-cap number: $0
2029
Base salary: Void
Prorated signing bonus: $0
Prorated option bonus: $1,121,000
Salary-cap number: $0
Total
Base salary: $7,610,000
Prorated signing bonus: $6,210,000
Prorated option bonus: $5,605,000
Total per-game roster bonus: $1,250,000
Workout bonus: $100,000
Guaranteed salary: $2,225,000
Salary-cap number: $15,331,941
OverTheCap.com's contract notes: The contract has $10.54 million in guarantees of which $8.435 million is fully guaranteed at signing. Jennings received a $6.21 million signing bonus. There is a $5.6 million option bonus due in the 2nd year of the contract. There are annual per game bonuses as part of the contract. Four void years are included for salary cap purposes. Jennings had been tendered at the 2nd round level by the 49ers prior to agreeing to the new contract. The contract is worth $10.5 million over his original RFA tender and his effective guarantee is $5.65 million more than his original tender. Jennings' cap number dropped by $2.11 million in 2024 as a result of the new contract.
According to OverTheCap.com, the 49ers are currently $8,242,382 under the salary cap.