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Kassim Osgood to re-sign with 49ers, per Ian Rapoport, Matt Barrows

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The 49ers are reportedly going to re-sign Kassim Osgood to a 1-year contract. We break down the likely salary cap implications.

Fooch's Update: Aaron Wilson is reporting it's the league minimum + a $20,000 roster bonus for being on the roster Week 1:

NFL Network's Ian Rapoport is reporting that special teams ace Kassim Osgood will re-sign with the San Francisco 49ers today. Matt Barrows followed that up by reporting the team signed him to a 1-year contract. While he is technically listed as a wide receiver, Osgood's value lies almost entirely in his special teams contributions. And those contributions were extensive.

Osgood is likely signing a veteran minimum deal. He played for the minimum in 2013, earning $940,000. The special teams ace had great value in part because the 49ers could utilize the veteran minimum salary benefit. This allowed the 49ers to reduce his cap hit to that of a second year player. In 2013 that was $522,353, which is the second year cap hit minus Week 1. Osgood was released at the end of training camp, then signed following Week 1. Had he been on the roster Week 1, his full salary would have been guaranteed. The 49ers did not release him the rest of the season, but it left them with that option.

Osgood's salary will likely be $955,000. With the minimum salary benefit, his cap hit would be $570,000. It will be interesting to see if the 49ers do the same thing as last year, with the end of camp release, and then re-sign for Week 2. Given what he showed on special teams last season, it might just be safest to keep him on the roster even with the full season guarantee.