The 49ers can't afford to lose another wide receiver.
ESPN's Adam Schefter reported last week that Jennings, who is in the final year of his contract, wants an extension or to move on to a new team.
As training camp gets started it appears San Francisco will be keeping the wide receiver around.
Vic Tafur of The Athletic reported that a Jennings trade is "unlikely" according to a league source.
There's a couple reasons for this. The first, and most important, is that the 49ers' wide receiver situation is one of the worst in the league.
Brandon Aiyuk just received his new contract but suffered a torn MCL and ACL in October that's put his status in jeopardy to start the season. Deebo Samuel was traded to the Washington Commanders. Second-year wideout Ricky Pearsall is recovering from a hamstring injury that has sidelined him to start training camp.
That leaves Jennings, who led all 49ers' receivers with a career-high 77 catches, 975 yards, and six touchdowns last year.
He appears to have some leverage with the lack of wide receivers available but the 49ers don't have the capital to give him a massive extension. After handing out big contracts to Aiyuk and Brock Purdy, San Francisco has had to cut key players to make the money work.
Jauan Jennings first 3 seasons in the NFL:
• 45 games
• 78 catches
• 963 yards
• 7 touchdowns
• 50 first downs
Jauan Jennings last season:
• 15 games
• 77 catches
• 975 yards
• 6 touchdowns
• 47 first downs pic.twitter.com/qmvRm8KIsf
So with no plans to trade him and a lack of financial flexibility, where does that leave John Lynch and the 49ers' front office? Could a player of Jennings' caliber warrant a holdout during training camp?
It's drama that San Francisco was hoping to avoid after dealing with Aiyuk's holdout last offseason. Unfortunately for them, it's as tumultuous as it was a year ago.
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