49ers' Updated Salary Cap After Brock Purdy's $265M Contract Extension

The San Francisco 49ers agreed to a five-year contract extension worth $265 million with Brock Purdy on Friday, according to NFL Network's Tom Pelissero.

Per Pelissero, Purdy's new deal contains $181 million in total guarantees as well as $165.05 million through the first three years. The quarterback is now under contract through the 2030 season.

It's a hefty price for San Francisco to pay as the team was projected to have $38.2 million in 2026 cap space, the first year that his extension is expected to kick in (via Over the Cap).

The average value of $53 million on his new extension is tied for the seventh-highest among all quarterbacks, via Spotrac.

While Purdy was set to enter the final year of his rookie deal in 2025, there was optimism throughout the offseason that both sides would eventually be able to find common ground.

Dianna Russini of The Athletic reported on May 8 that contract negotiations between both sides were "moving in a really good direction" and there was an "expectation" that an extension was going to get done.

49ers general manager John Lynch also told reporters that "I think we're going to get the deal done" on March 31, via ESPN's Nick Wagoner.

Purdy failed to exceed expectations during his 2024 campaign, completing a career-low 65.9 percent of his throws for 3,864 yards and 20 touchdowns compared to 12 interceptions.

Still, it's worth noting that several key offensive playmakers missed time last season as the team finished with a 6-11 record. Christian McCaffrey, Brandon Aiyuk and George Kittle all missed multiple games in 2024.

Purdy is only one season removed from a 2023 campaign in which he racked up 4,280 yards and 31 touchdowns through the air, getting picked off 11 times. He led all starting quarterbacks with an average of 9.6 yards per attempt, while his 73.4 QBR was tied for No. 1 in the NFL.

As the 49ers look to return to the playoffs in 2025, they handed Purdy a new five-year extension on Friday.