NFL fans across the country spent much of the offseason debating where Jimmy Garoppolo would play in 2022. The quarterback who had led the San Francisco 49ers to the NFC Championship Game twice in the past three years became a lame duck quarterback the moment the Niners spent three first round picks to move up in the 2021 NFL Draft to select Trey Lance.
However, with the trade market slow, and apparently few bidders for his services on a contract that would pay him in the neighborhood of $25M in 2022, he remained with the 49ers as the deadline for teams to cut down to 53 players before Tuesday at 4 PM New York Time. Many fans of the Seattle Seahawks in particular had hoped that the team could land Garoppolo after the Niners, rather than sit through a season of watching Drew Lock or Geno Smith.
Well, the wait is over, and where Garoppolo will play in 2022 is now known.
The #49ers and QB Jimmy Garoppolo are finalizing a new contract that will make him the highest paid backup in the NFL, sources tell me and @MikeGarafolo. A solution that keeps Jimmy G on the roster while making clear it’s Trey Lance’s team going forward. pic.twitter.com/HZJf5Zc48m— Ian Rapoport (@RapSheet) August 29, 2022
The renegotiated contract not only keeps Jimmy G in the Bay Area, it also include a no-trade clause and a no-tag clause. The no tag clause guarantees him the ability to become an unrestricted free agent in the spring, while the no-trade clause allows him to control where the 49ers could send him, should they receive an offer attractive enough to move on between now and the trade deadline.
Jimmy Garoppolo and the 49ers agreed to a restructured one-year contract that will keep the QB in San Francisco this season, per sources. The contract contains no-trade and no-tag clauses, assuring Garoppolo will remain in SF this season and have the freedom to leave in 2023. pic.twitter.com/2tj0dDGgN9— Adam Schefter (@AdamSchefter) August 29, 2022
As for the financials of the deal, according to Adam Schefter they are as follows.
Comp update: Jimmy Garoppolo’s one-year restructured deal is worth $6.5 million in base, fully guaranteed, per sources. He has another total of $500k in roster bonuses. He also has playtime bonuses that can boost it another nearly $9M. So, one year, $7M, up to just shy of $16M.— Adam Schefter (@AdamSchefter) August 29, 2022
That means the move should save the 49ers somewhere in the neighborhood of $9M in cap space immediately, with the potential to receive another $9M in cap credits for 2023 should Garoppolo not hit the playing time threshold.