The Pittsburgh Steelers’ price to acquire San Francisco 49ers wide receiver Jauan Jennings may be higher than previously thought.

The Pittsburgh Steelers have been looking to add a No. 2 wide receiver since trading George Pickens to the Dallas Cowboys in May, and one may have just become available since San Francisco 49ers’ Jauan Jennings demanded a new contract or to be traded. So what would it take to acquire Jennings?

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According to Alex Kay of Bleacher Report, the Steelers would have to consider sending a 2026 third-round pick and wide receiver Calvin Austin III in exchange for Jennings.

“Pittsburgh is flush with draft capital next year, having added a Day 2 pick from the Dallas Cowboys to the coffers during the Pickens trade. That 2026 third-rounder could be leveraged as part of a package that springs Jennings free from San Francisco, especially if the Steelers are willing to part with a replacement receiver in the deal,” Kay writes. “Giving up that selection from Dallas and Calvin Austin III—a promising 2022 fourth-rounder who has largely underwhelmed during his time with the Steelers and needs a change of scenery—should be enough to convince the Niners to move on if they refuse to extend Jennings.”

The Steelers are currently scheduled to have 12 picks in the 2026 NFL Draft, but they’ve been stockpiling them with the intent of moving up to grab their future franchise quarterback. So trading away a Day 2 pick could make that a little more difficult to do.

Parting with another promising wide receiver in Austin could also be asking too much from Pittsburgh. Austin is heading into the final year of his rookie deal, but he has steadily improved every year.

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Austin missed the entirety of his rookie season due to a foot injury, but in 2023, he had 17 catches for 180 yards and one touchdown. And then last season, he had a career-high 36 catches for 548 yards and four touchdowns.

Pittsburgh is also going to have to give Jennings a raise if it acquires him. It’s unclear how much more money he’s hoping to receive, but his market value is believed to be a two-year, $38.2 million deal ($19.1M per year), per Spotrac.

So while the Steelers could desperately use a player like Jennings, giving up valuable draft capital, a player and having to pay him may be too steep.

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Jennings, 28, is coming off the best season of his five-year NFL career. In 2024, he recorded a career-high 77 catches for 975 yards and six touchdowns.

This article originally appeared on Steelers Now: Steelers’ Potential Trade Package for 49ers WR Jauan Jennings

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