The five-year extension has a value of $95.225 million. Factoring in the value of the 17th game check, it works out to $19 million per year.
Here’s a full breakdown of the deal, based on information from a source with knowledge of the terms.
1. Signing bonus: $12.32 million.
2. 2021 base salary: $920,000, fully guaranteed at signing.
3. 2022 option bonus: $12.68 million, fully guaranteed at signing.
3. 2022 base salary $2.564 million, $1.58 million of which is fully guaranteed at signing. The rest becomes fully guaranteed early in the 2022 league year.
4. 2023 base salary: $12.925 million, $12.016 million of which becomes fully guaranteed early in the 2022 league year.
5. 2024 base salary: $15.3 million.
6. 2024 buyback bonus $3.6 million, which rescinds the voidable years of 2025 and 2026.
7. 2025 base salary (if void is rescinded): $17.65 million.
8. 2026 base salary (if void is rescinded): $17.65 million.
The deal also has $100,000 workout bonuses in 2022 through 2026, along with $500,000 46-man roster bonuses in years 2022 through 2026.
The deal has $27.5 million fully guaranteed at signing, with another $13.5 million that becomes fully guaranteed at the start of the 2022 league year. (To avoid the $40.5 million guarantee, the 49ers would have to cut Warner after one year, at a total obligation of $27.5 million.)
If the 49ers don’t exercise the buyback of the two voidable years, it becomes a three-year, $18.375 million deal, $40.5 million of which is guaranteed. If the 49ers exercise the buyback, it’s a five-year, $19 million extension.
Warner’s contract slides ahead of Seahawks linebacker Bobby Warner, who had $40.25 million guaranteed and an average salary of $18 million per year.