Negotiations are ongoing between the San Francisco 49ers and star wide receiver Brandon Aiyuk regarding a contract extension. The 49ers have reportedly offered Aiyuk around $26 million per year, according to the San Francisco Chronicle's Mike Silver. While this offer would make Aiyuk one of the top-10 highest-paid wide receivers in the NFL, it falls short of recent lucrative extensions received by other players in the position.

The wide receiver market has been particularly active this offseason, with players like Justin Jefferson, A.J. Brown, and Amon-Ra St. Brown securing significant deals. Jefferson set a new record with an average annual value (AAV) of $35 million, followed by Brown at $32 million AAV, St. Brown at $30 million AAV, and Jaylen Waddle at $28.3 million AAV. Even DeVonta Smith, who received $25 million AAV in his extension with the Philadelphia Eagles, earned more than the 49ers' current offer to Aiyuk.

Aiyuk, who is currently playing on the franchise tag worth $14.1 million, is apparently looking for a deal that would put him among the highest-paid wide receivers in the league. ESPN reports that Aiyuk sees Amon-Ra St. Brown's four-year, $120 million contract as the benchmark. However, the 49ers view Aiyuk as a valuable player who they believe is one of the better receivers in the league, though not on the same level as Jefferson and other top-tier receivers.

Complicating matters for the 49ers is the contract of wide receiver Deebo Samuel. Samuel is under contract for two more years with an AAV of $23.9 million, ranking 11th among wide receivers. The team previously considered trading Samuel but ultimately decided to keep him on the roster. With other long-term investments in players like Christian McCaffrey, Trent Williams, and Fred Warner, the 49ers have limited financial flexibility.

The team's plans to extend quarterback Brock Purdy's contract in the near future further impact their ability to pay top dollar to multiple wide receivers. According to Mike Silver, it is believed that either Aiyuk or Samuel, if not both, will likely be moved after the 2024 season.

The 49ers are carefully considering their overall financial model and the increasing number of talented wide receivers coming through the draft. Despite their view of Aiyuk as a valuable player, they are cautious about committing significant financial resources to multiple receivers while also having to pay their quarterback.

As negotiations continue, both Aiyuk and the 49ers will have to find common ground that balances the player's desire for a lucrative contract extension while considering the team's long-term financial strategy and the dynamic landscape of the wide receiver market.