Cornerback Deommodore Lenoir has long been regarded as one of the 49ers’ franchise stalwarts.
Lenoir, a fifth-round pick out of Oregon in the 2021 NFL Draft, has made significant contributions since the beginning of last season. As a result, he might be one of the best players eligible for free agency in March.
According to several media reports, San Francisco has signed Lenoir to a five-year contract. According to ESPN’s Jeremy Fowler, the deal is for a stunning $92 million. Lenoir’s $18.4 average annual salary ranks him 12th among NFL cornerbacks.
This seems to be a win-win for both sides. Lenoir collects a big check. San Francisco avoids having to compete with other teams to retain him in free agency.
The 25-year-old Lenoir has morphed into one of the best all-around cornerbacks in the game. Last season saw him yield a 72.5 QB rating when targeted. He’s been even better thus far in 2024, with quarterbacks completing 58.5 percent of their passes for 65.1 rating when targeting Lenoir.
Fellow cornerback and Pro Bowl performer Charvarius Ward is slated to hit free agency in March. The 49ers could not head into the spring with both of their starting cornerbacks potentially set to leave.
Whether this means that the 49ers won’t be able to retain Ward remains to be seen. He’s in the final year of a contract that pays the cornerback a mere $13.5 million annually. Ward is likely looking at a market of $20-plus million on a per-year basis should he hit free agency.
As for Lenoir, he’s going to continue playing a huge role in San Francisco’s secondary. His ability to play both on the outside and in the slot creates a ton of versatility. If Ward were to move on, Lenoir would likely pair with rookie second-round pick Renardo Green as the starting corners in San Francisco over the long haul.
San Francisco 49ers Finances After Deommodore Lenoir Extension
Some may be wondering how the 49ers are able to continue handing out these lucrative contracts. After all, the NFL exists under a hard salary cap.
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But there is a lot more to this. Primarily, quarterback Brock Purdy playing under a rookie contract that is paying him an average salary of $934,000. That will change once March comes calling. Purdy will become one of the highest-paid players in NFL history with an average salary paying him north of $50 million.
From a financial perspective, these 49ers continue to have some of the highest-paid players at their respective positions in the NFL.
Running back Christian McCaffrey, fullback Kyle Juszczyk, left tackle Trent Williams and edge rusher Nick Bosa are the highest-paid at their positions. Wide receiver Brandon Aiyuk, tight end George Kittle and linebacker Fred Warner are within the top five at their positions.
Young guard Aaron Banks comes to mind as a possible extension candidate before the season concludes. The former second-round pick out of Notre Dame has turned into one of the better guards in the NFL. At 27 years old, he’s set to hit free agency in March.
Given some of the issues we’ve see on the 49ers’ offensive line in recent seasons, retaining Banks before he hits the open market would make sense.
Linebacker Dre Greenlaw is obviously another option to be extended before he hits free agency. Fred Warner’s running partner is making his way back after suffering a torn Achilles’ in February’s Super Bowl. His importance to the 49ers’ success on defense can’t be ignored.
If San Francisco wants to double down at cornerback, general manager John Lynch and Co. could very well go to Ward’s camp and see if an extension makes sense. Though, it now seems highly likely that the star cornerback will test the open market. The 49ers paying Deommodore Lenoir adds another layer to this.
