49ers restructure Jimmy Garoppolo’s contract to a one-year deal worth $6.5 million to be Trey Lance’s backup

The 49ers, in true fashion, did something few thought they would. ESPN’s Adam Schefter announced the team is restructuring Jimmy Garoppolo’s contract. Yes, you read that right. Jimmy isn’t going anywhere.

The new contract is worth one-year and has a base of $6.5 million, that’s fully guaranteed. Garoppolo has another total of $500,000 he could reach in roster bonuses. He also has playtime bonuses that can boost it up to $9 million.

After this restructure, the 49ers now have the second-most cap space in the NFL with $22 million. Garoppolo’s contract contains a no-trade clause, meaning if the team wants to deal him during the year before the trade deadline, Jimmy has a say in it.

Finally, the Niners would get a third-round compensatory pick next year by having Garoppolo on the team. That should be viewed as a positive

***Deep breaths***

Why?

On the surface, the 49ers upgraded over Nate Sudfeld and Brock Purdy. There is value in having a legitimate backup. Nobody would argue that. But you could, in theory, release Garoppolo and use that money to upgrade your interior offensive line to help the quarterback you invested multiple first-round picks in.

Instead, you’re putting pressure on Trey Lance to perform right away. And if he doesn’t, look out. There were reports that the 49ers brass feared Garoppolo would go to Seattle. OK. Let’s say that were to happen. The Seahawks, at best, become a 7-8 win team?

To me, this comes down to the Niners overvaluing one of their own and refusing to admit a mistake. This could have been fixed early in the offseason with a release. It wasn’t, and here we are, nine months later, still talking about Garoppolo.

Does this say more about Lance than Jimmy? We’ll see.