Christian McCaffrey agrees to reported two-year, $38M extension with 49ers

Christian McCaffrey will remain with the 49ers for at least the next few seasons

The superstar running back and reigning NFL Offensive Player of the Year award recipient agreed to a two-year contract extension with San Francisco, a source confirmed NBC Sports Bay Area's Matt Maiocco. ProFootballTalk's Mike Florio first reported the agreement was for two years and $38 million.

Source confirms that the 49ers have signed RB Christian McCaffrey to a two-year extension through the 2027 season.

— Matt Maiocco (@MaioccoNBCS) June 4, 2024

McCaffrey originally was under contract with the 49ers through the 2025 NFL season, and his extension now will keep him in the Red and Gold through the 2027 season while making him the league's highest-paid running back at an average annual value of $19 million per season.

After originally signing a four-year, $64 million contract extension with the Carolina Panthers in 2020, McCaffrey -- as Spotrac's Michael Ginnitti pointed out on X -- now will be owed $62 million over the next four seasons after tacking on two additional years with the 49ers.

RB Christian McCaffrey had 2 years, $24M remaining on his contract with the #49ers. Assuming this is 2 new years, $38M new money, he's now looking at a 4 year, $62M total value contract through 2027.

The 27-year-old has earned $65.6M in his 7-year career, which already ranks 4th…

— Spotrac (@spotrac) June 4, 2024

And there's little doubt that he's worth it. McCaffrey has elevated the 49ers' offense since he was traded to San Francisco midway through the 2022 season.

In 2023, his first full season in 49ers coach Kyle Shanahan's offense, McCaffrey recorded 272 carries for 1,459 rushing yards and 14 touchdowns on the ground to go along with 67 receptions for 564 receiving yards and seven touchdowns through the air on his way to being crowned the league's best offensive player.

McCaffrey reported to 49ers mandatory minicamp on Tuesday after skipping the team's optional organized team activity (OTA) workouts last month due to an undisclosed reason.

After agreeing to a new contract, McCaffrey now can focus on preparing for the 2024 season.

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