The 49ers have to restructure Christian McCaffrey's deal for 2023
It’s a win-win for both parties, so why not get it done?
The San Francisco 49ers are above the red line when it comes to the 2023 salary cap, but not by much.
Per Over The Cap, the 49ers currently have close to $5.9 million in cap space, which is basically zero once you consider it's going to cost around $1 million to sign the draft class. Then, there's the $5ish million of "operating money" needed for things like the practice squad, regular season injury replacement signings, etc.
But, there's one quick way they can create breathing room: turn Christian McCaffrey's 2023 base salary into a signing bonus and add two void years to spread out the prorated cap hit.
There are two main points to this: Signing bonuses are divided up by no more than five years on an NFL contract and, the 49ers have to pay McCaffrey $1.165 million in base salary.
I mean, he has to get a game check.
But the 49ers can then take the remaining $10,635,000 of McCaffrey's $11.8 million base salary, add two void years to the contract, and then spread that $10.635 million over the 2023, 2024, and 2025 seasons. Plus, the two void years in the 2026 and 2027 seasons.
So, McCaffrey's 2023 cap hit would consist of his $1.165 league minimum base salary and the prorated $2,127,000 of the $10.635 million that was converted into the signing bonus.
Therefore, his entire cap hit would be $3,292,000 and the 49ers would create $8,508,000 in cap space.
It's a win-win for both parties. McCaffrey doesn't have to wait the entire season to get his money and the 49ers create a decent amount of cap room while not adding a whole lot to the future bill. An extra $2.127 million yearly, prorated hit isn't hard to swallow for a championship contender.
Featured image via Bill Streicher-USA TODAY Sports
