New 49ers Rumors on WR Jauan Jennings Contract amid Free Agency Ahead of NFL Draft 2026

Even though Jauan Jennings' asking price would seem to have gone down since he remains a free agent, the odds of him returning to the San Francisco 49ers remain low.

Per ESPN's Nick Wagoner, Jennings is "not expected back" with the 49ers as he waits to find a home for next season.

Contract projections for Jennings had him pegged for a deal worth around $68 million over three years. There are plenty of teams with cap space to fit that type of contract into their books, but it's not usual to see a deal like that outside of the first wave of free agency.

San Francisco's receiver room was one of its biggest question marks when the offseason began. Jennings was a free agent and had already gone through a contract dispute with the team prior to the start of last season.

Brandon Aiyuk, even though he is surprisingly still on the roster, is not going to be back, per 49ers general manager John Lynch.

The 49ers addressed their receiver room in free agency by signing Mike Evans and Christian Kirk. That duo will join a group that includes Ricky Pearsall, Demarcus Robinson and Jacob Cowing.

Despite the additions of Evans and Kirk, the 49ers do need long-term help at the position. Evans, who turns 33 on Aug. 21, effectively only signed a one-year deal with two option years for 2027 and '28. Kirk only signed a one-year deal.

San Francisco has frequently been connected to receivers early in the draft. B/R's NFL scouting department is projecting KC Concepcion to the 49ers with the No. 27 pick.

Lynch didn't confirm the 49ers would go after a pass-catcher in the first round, but he suggested it's a position they do want to address in the draft.

"I don't know about early, but we're certainly in the business of adding good players," Lynch said (h/t Wagoner). "I think at that position, the way these guys [are getting paid], it's probably healthy business to try to add them as much as you can in these drafts."

If the 49ers do go with a receiver in the first round, it would mark the second time in three years they have used their top pick on the position.

Pearsall was the No. 31 pick in the 2024 draft. He has shown flashes of promise through his first two seasons, but injuries have limited him to 20 out of a possible 34 games.

Jennings is a huge developmental success story. He emerged from a seventh-round pick in 2020 to becoming a full-time starter in his fourth season. The 28-year-old led the 49ers with 975 receiving yards in 2024 and set a career-high with nine touchdowns last season.