After the 49ers signed George Kittle to a five-year, $75 million extension and the Chiefs signed Travis Kelce to a four-year, $57 million extension, Ertz appeared the next tight end in line for a megadeal.
Austin Hooper initially reset the tight end market this offseason by signing a four-year, $42 million contract with the Browns in free agency.
Ertz, 29, signed a five-year deal worth $42.5 million with $20 million in guarantees soon after the 2015 season. He was the fourth-highest paid tight end at the time, and his yearly average of $8.5 million now ranks seventh.
Ertz is set to make $6.66 million this season and $8.25 million in 2021.
“I do consider myself in that upper echelon of guys,” Ertz said earlier this month, via Mike Kaye of NJ.com. “In that same tier with all those guys. I don’t mean any disrespect, but I think a lot of guys [at the NovaCare Complex] feel the same way about me.”
Ertz has 356 catches for 3,719 yards and 26 touchdowns the past four seasons.