Fooch’s update: Adam Schefter is reporting the first three years of Jimmy Garoppolo’s extension will include just under $90 million, which is a record for three-year cash total. Still no word on how much of that is fully guaranteed.
The San Francisco 49ers and Jimmy Garoppolo are wrapping up the final details on a five-year, $137.5 million contract extension, but details are starting to arrive. Adam Schefter tweeted that a 49ers executive told him it’s not quite done yet, but Matt Maiocco has the first mention of guaranteed money.
Jimmy Garoppolo’s deal with the #49ers averages a league-high $27.5 million over five years with total guarantees totaling $74 million, per source.
— Matt Maiocco (@MaioccoNBCS) February 8, 2018
That is total guarantees, so we don’t know yet how that is broken up between fully guaranteed money and injury guaranteed money. The record for fully guaranteed money is Matthew Stafford’s $60,500,000. Derek Carr is next on the quarterback list at $40 million. It’s interesting to not that Stafford had $92 million in total guarantees, while Carr had $70 million in total guaranteed money. With those numbers in mind, my is Garoppolo’s fully guaranteed money will fall somewhere in the $45 million to $50 million range.
Although Garoppolo was scheduled to become a free agent in March, the 49ers could ink him to an extension at any point before then. Assuming the deal is formally executed and announced today, we will likely see some specific numbers later next week. A lot of times that can drag on, but with the “biggest” contract in history, media will be all over finding the specifics.