The 49ers have restructured the contract of running back Christian McCaffrey, Field Yates of ESPN reports.
The move creates $8.576 million in cap space, and the 49ers now have some $10 million in salary cap space for this season.
McCaffrey is under contract through 2025 and was scheduled to make $11.8 million base salary and count $12 million against the salary cap.
The 49ers acquired McCaffrey in an in-season trade with the Panthers.
He had 211 touches for 1,210 yards and 10 touchdowns in 11 games with the 49ers, earning Pro Bowl honors for the second time in his career.