49ers pending free agent projected receive huge payday this offseason

Last offseason, the San Francisco 49ers and Jauan Jennings were at an impasse with the receiver's contract, but the two sides came to an agreement on a restructured deal for 2025 that included several incentives.

Now, Jennings is set to hit the open market as an unrestricted free agent for the first time in his career, and the 28-year-old is expected to earn a good chunk of money.

According to Spotrac, Jennings' market value is $22.61 million annually, and they project that he'll receive a three-year, $67.84 million contract this offseason.

After catching 78 passes for 963 yards and seven touchdowns in his first four years in the NFL, Jennings has really impressed over the last two seasons, hauling in 132 receptions for 1,618 yards and 15 scores.

The receiver market has exploded in recent years, so $22.61 million annually would put him 20th in AAV at the position right now. However, with Puka Nacua and Jaxson Smith-Njigba able to receive extensions in the division this offseason, Jennings' deal could look even better.

San Francisco can't really afford to lose Jennings right now because their receiver room is lacking starting level talent, but the 49ers have cap space to make a competitive offer if they want him back.

More 49ers: Vikings to release 2 Pro Bowlers who may help 49ers' key depth issues

This article originally appeared on Niners Wire: NFL free agency: 49ers WR Jauan Jennings projected to get paid a ton