San Francisco has been quiet, but one move, or lack of, strikes as more head-scratching than others.
The San Francisco 49ers haven’t done much to improve the team this offseason, instead letting free agents while bringing in primarily veterans on cheaper contracts in free agency.
Still, there have been some moves that stand out among the others, most notably bringing back Robert Saleh as the team’s defensive coordinator.
But, there have also been questionable moves (or lack thereof), as the 49ers reset for the upcoming season. Of the bunch, one move especially stands out when given the numbers in free agency: letting Dre Greenlaw walk.
Entering the offseason, the 49ers were expected to let a majority of their key free agents walk. However, general manager John Lynch repeatedly shared the team’s goal of bringing Greenlaw back.
“We know how highly we think of Dre [Greenlaw],” Lynch said at the 2025 NFL Scouting Combine. “We’d love to have him back. Hopefully, we’ll come to an agreement [before free agency]. We’ve been having talks.”
The 49ers ultimately did not reach that agreement prior to free agency, and Greenlaw signed a three-year, $31.5 million deal with the Denver Broncos. A multi-year deal worth over $10 million annually is a good contract for the linebacker, who suffered an Achilles injury in the Super Bowl in 2023 and missed half the season last year.
However, there’s more to unravel with Greenlaw’s contract. While he can make up to $35 million with incentives on the three-year deal, there’s only $13.5 million guaranteed and $11.5 million guaranteed at signing. That includes his $6.5 million signing bonus and 2025 compensation.
Greenlaw has a base salary of just $3.47 million in 2025 and a cap hit of $5.8 million. After that, his cap hits increase to $11.2 million and $13.2 million for the 2026 and 2027 seasons.
But, when looking deeper into the fine print, it’s essentially a year-to-year deal for Denver. The Broncos can get out of Greenlaw’s contract after one year with just a $4.3 million dead cap hit, saving nearly $7 million in 2026. That dead cap hit drops to just $2.2 million in 2027 ahead of the final year of Greenlaw’s deal.
Now, there could be a variety of factors that swayed the linebacker to Denver, namely the idea of being the top dog in the middle for an elite defense. That wasn’t going to be the case with Fred Warner in San Francisco long-term.
However, contract-wise, the 49ers could’ve definitely competed with Denver’s offer while maintaining flexibility for the future, keeping a key piece in the fold at linebacker.
San Francisco struggled at linebacker behind Warner last season when Greenlaw wasn’t in the mix. Only entering his age-28 season, the 49ers could’ve had Greenlaw for the duration of his prime with a contract like Denver’s, keeping the homegrown talent in San Francisco for years to come.
Instead, the 49ers will have to find a replacement for Greenlaw, while he teams up with former Niners like Talanoa Hufanga and D.J. Jones in Denver.