The 49ers are keeping their star running back in the Bay Area for the foreseeable future.
Christian McCaffrey and the 49ers have reportedly agreed to a two-year contract extension Tuesday that will reportedly pay him $19 million per season, according to ESPN's Adam Schefter.
McCaffrey has been a focal point of San Francisco's offense since coming over from the Panthers in a mid-season 2022 trade. He has rushed for 2,205 yards with 20 touchdowns and caught 119 passes for 1,028 yards and 11 touchdowns with the 49ers, and he won AP Offensive Player of the Year honors in 2023.
Here's the latest on his extension with the 49ers.
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Christian McCaffrey contract details
McCaffrey signed a two-year, $38 million extension with the 49ers on Tuesday, according to Schefter. The contract will keep him locked in through the 2027 season. He'll be 31 in the final year of his deal.
Back when he still played for the Panthers, McCaffrey signed a four-year, $64.1 million contract that made him the highest-paid running back in the NFL. The contract paid him an average of $16 million per year.
The new contract tacks on two more years to the previous extension he signed with the Panthers.
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Speculation will quickly shift from the contract given to McCaffrey to a new deal for Brandon Aiyuk, who is eligible for an extension this offseason. The 49ers have handed new contracts to Nick Bosa, Jauan Jennings, and now McCaffrey — all in the time Aiyuk has been eligible for an extension.
Aiyuk will be playing on his fifth-year option in 2024, which will pay him just north of $14 million. Considering the lucrative extensions for Justin Jefferson, Jaylen Waddle, Amon-Ra St. Brown, and DeVonta Smith, among others, this offseason, Aiyuk can certainly expect a lofty new deal.
Highest-paid running backs
McCaffrey's contract keeps him as the highest-paid running back in the NFL, a title he has held since signing the initial contract with the Panthers.
The running back market has been a point of criticism among many because of teams' refusal to hand out large contracts to star backs at the same rate as wide receivers and other non-quarterbacks.
Here's a look at the highest-paid running backs, both by total contract value and average annual value, according to Spotrac.
Total contract value
| Player | Team | Start Year | Years | Value |
| Ezekiel Elliott* | Cowboys | 2019 | 6 | $90 million |
| Adrian Peterson | Vikings | 2011 | 6 | $86.3 million |
| Alvin Kamara* | Saints | 2020 | 5 | $75 million |
| Christian McCaffrey* | Panthers | 2020 | 4 | $64.1 million |
| Dalvin Cook* | Vikings | 2020 | 5 | $63 million |
| Shaun Alexander | Seahawks | 2006 | 8 | $62 million |
| LaDainian Tomlinson | Chargers | 2004 | 8 | $60 million |
| Todd Gurley | Rams | 2018 | 4 | $57.5 million |
| Chris Johnson | Titans | 2011 | 4 | $54 million |
| Le'Veon Bell | Jets | 2019 | 4 | $52.5 million |
| Reggie Bush | Saints | 2006 | 6 | $52.5 million |
* Still active
Average annual value
| Player | Team | Start Year | Years | AAV |
| Christian McCaffrey* | 49ers | 2024 | 2 | $19 million |
| Christian McCaffrey* | Panthers | 2020 | 4 | $16 million |
| Ezekiel Elliott* | Cowboys | 2019 | 6 | $15 million |
| Alvin Kamara* | Saints | 2020 | 5 | $15 million |
| Le'Veon Bell | Steelers | 2018 | 1 | $14.5 million |
| Adrian Peterson | Vikings | 2011 | 6 | $14.4 million |
| Todd Gurley | Rams | 2018 | 4 | $14.4 million |
| Jonathan Taylor* | Colts | 2023 | 3 | $14 million |
| Adrian Peterson | Vikings | 2015 | 3 | $14 million |
| Chris Johnson | Titans | 2011 | 4 | $13.5 million |
* Still active