The 49ers and running back Jerick McKinnon agreed to restructure his contract, a source tells Matt Maiocco of NBC Sports Bay Area. McKinnon had been seen as a likely cap casualty. Instead, he will stay in San Francisco.
McKinnon is now signed through 2020, with Adam Caplan of Sirius XM Radio noting (via Twitter) the running back agreed to trim a year off his contract. The ex-Viking agreed to slash a lofty salary down to the veteran minimum, per Caplan, who adds that does not include the per-game roster bonuses the veteran would be in line to receive (Twitter link).
McKinnon will earn $910K in base salary and, thanks to a $4MM prorated signing bonus, count for $2.91MM against the 49ers’ 2020 cap, according to OverTheCap.
The Niners organization has long hoped to see what McKinnon could do in head coach Kyle Shanahan‘s offense. Shanahan and general manager John Lynch targetted McKinnon in the 2018 offseason, signing the versatile back to a four-year, $30MM contract. However, two seasons later, McKinnon has yet to take the field in a regular-season game for the 49ers.
After suffering a torn-ACL during practice prior to the 2018 season, another knee surgery cost McKinnon the 2019 season as well. When we last saw McKinnon in regular-season action, McKinnon was working as a scatback for the Vikings contributing off of handoffs and catching passes out of the backfield. In his final season in Minnesota, McKinnon received 201 touches (150 carries and 51 receptions) for 991 yards from scrimmage (570 rushing and 421 receiving) and 5 touchdowns (3 rushing and 2 receiving).
Under his original agreement, McKinnon was set to count $8.55MM against the salary cap in 2020 and San Francisco could have saved $4.55MM in cap space from releasing him (per Over the Cap). With Matt Breida entering free agency and Tevin Coleman remaining a possible cap casualty, keeping McKinnon in the fold at a lower number gives the Niners some added financial flexibility.
This is interesting: McKinnon is making less money playing in 2020 than he would make by being cut. Strange decision.
From the player side, it would make more sense to be cut, collect the guaranteed 49ers’ loot and look for a contract elsewhere.
Except he is thinking about his next contract. Sure he could get paid a little more this year, or he could remain on a team that made it to the Superbowl without him. Now, if he plays well, now can sign another good deal next year. Win win