The Real Numbers of Mike Evans' Contract with the San Francisco 49ers

There are a few different ways to dissect the Mike Evans signing, and a lot of it has to do with how you view the contract that he was given. Based on the wording and the terms, the deal can be viewed as very team-friendly or very player-friendly. So, what does the actual Mike Evans deal look like?

Dissecting the Mike Evans contract with San Francisco 49ers

Dec 11, 2025; Tampa, Florida, USA; Tampa Bay Buccaneers wide receiver Mike Evans (13) catches a thirty-three yard pass thrown — Nathan Ray Seebeck-Imagn Images

The initial reporting on the deal is three years worth of $60M. That is a win for Mike Evans. Evans is going to be 33 years old when the season starts, and his last two years have been the worst two years of his career from an injury and production standpoint.

Three years means the 49ers have him until he is 36 years old, and $20M per year still has him with some of the better receivers in the NFL. This tier is close to Michael Pittman, Courtland Sutton, Davante Adams, and Jakobi Meyers. All of them are younger and more productive than Evans was last year.

This is also essentially what many thought Jauan Jennings would get, meaning they opted for an older player who did not play for the team last year at the same price. They are asking for a lot.

Dec 28, 2025; Santa Clara, California, USA; San Francisco 49ers wide receiver Jauan Jennings (15) warms up before the game ag — Sergio Estrada-Imagn Images

On the flip side, another report came out that the deal is closer to three-years, and $42M. That comes out to $14M per year, which would put him closer to Khalil Shakir, Rashod Bateman, and Cooper Kupp. These are more role players with complementary skillsets. At his age, this is likely the expectation for Evans.

The price is also well below what many saw Jennings getting. So, the 49ers have a legitimate talent to replace him, and they can upgrade in other areas.

It is fair for Evans and the 49ers to add incentives to the deal. If the 49ers see vintage during any of their time together, they will gladly have him enter a new tier of pricetag. It is also likely that some of the terms in the incentives are tied to team winning and playoff success, which would obviously be appreciated by the 49ers.

Still, the crux of the deal is one year and $16M, and there is a chance that he can cash in on all three years, even if he does not hit those incentives.

If Evans struggles, the 49ers have no guarantees for him beyond this year. If he exceeds expectations, they have him on the books, and he will have the bonuses kick in, which will mean they do not have to negotiate or deal with a holdout. Even if Evans stays healthy, is a role player, and the team does not have a long run, they can consider bring him back on what would be similar to a third receiver salary.