It’s now or never for an Aiyuk trade, due to his odd contract structure

During the combine broadcast on Saturday, NFL Network’s Ian Rapoport gave credence to rumors that the San Francisco 49ers could trade receiver Brandon Aiyuk this offseason. He mentioned Aiyuk’s name along with the Los Angeles Rams’ Cooper Kupp and Aiyuk’s teammate Deebo Samuel, who has since been traded to the Washington Commanders, as receivers potentially on the move in 2025.

From our Combine coverage: A breakdown of some big-name WRs who could be traded, looking at Cooper Kupp, Deebo Samuel, and maybe even Brandon Aiyuk. pic.twitter.com/axg5HfChCR

— Ian Rapoport (@RapSheet) March 1, 2025

For perspective, the 49ers will have to reshape their roster over the next couple of seasons to accommodate the large cap hits that will result from quarterback Brock Purdy’s future extension. Beyond just Samuel and Aiyuk, San Francisco also drafted first-round wide receiver Ricky Pearsall last season and gave Jauan Jennings a two-year, $15.4 million contract extension.

Aiyuk, a former first-round pick himself, had a messy holdout with the team last summer that lasted until the 49ers gave him a four-year, $120 million contract extension in August. The structure of that deal is interesting, though, as the only money from that extension that has been paid out to Aiyuk from San Francisco at this point has been his $23 million signing bonus.

On April 1st, his $22.9 million bonus in 2025 fully guarantees. On the same date, also this offseason, his $24.9 million bonus in 2026 fully guarantees. His contract structure also includes two void seasons added to the end of his deal, meaning that whoever owns Aiyuk’s rights in 2025 will only have to account for $4.6 million in cap space for his 2025 bonus and $9.6 million in 2026 for his 2025 and 2026 bonuses combined. The rest of those $33.7 million will hit the cap in future seasons.

Essentially, his contract structure automatically forces a team to put him on a credit card, a payment they’ll make in the future. This is one reason why the 49ers might be looking at trading him now: They have until April 1st to move him, or the dead cap will just continue to build up on his deal. If they don’t move on this offseason, they’re making a long-term bet on the receiver, as it will be difficult to move on from him in 2026 and 2027.

Aiyuk is a true number-one receiver, but the fact that he tore his ACL and MCL in October could lead to teams questioning whether or not he will be 100 percent when he returns to the field in 2025. With that being said, it’s not often that a 26-year-old All-Pro receiver is available, be it in free agency or a trade. For some teams, that might be a risk worth taking.