Fresh off owner Jed York selling a stake in the team to three Bay Area families, the San Francisco 49ers are making another big move.

Per multiple reports, the team has agreed to a five-year, $265 million contract extension with quarterback Brock Purdy. The deal also includes $181 million in guaranteed money.

It’s an enormous pay increase for Purdy. He’ll go from making $5.3 million in 2025 to an average annual value of $53 million once the contract kicks off in 2026. And he’ll make even more upfront, as the contract pays $165.05 million over the first three seasons.

Purdy’s rise to stardom is one of the more impressive recent stories in sports. After four years at Iowa State, he was the last player selected in the 2022 NFL Draft—also known as “Mr. Irrelevant.” 

He entered his rookie season as the third-string quarterback behind Trey Lance and Jimmy Garoppolo. During the preseason, 49ers coach Kyle Shanahan said he thought Purdy was the team’s best quarterback. However, the team had more money invested in Lance, so he received the starting nod. 

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That gig didn’t last long. Lance went down with a season-ending ankle injury in Week 2, catapaulting Garoppolo into the starting job. Purdy made a couple of appearances as the backup in garbage time of blowout games. 

When Garoppolo suffered a foot injury in Week 13, Purdy came in and played well. He became the first “Mr. Irrelevant” to throw a touchdown pass in an NFL game, and the 49ers rewarded him with the starting role for the rest of the season. He won his first seven games and led the Niners to the NFC Championship Game.

The following season, Purdy had another strong year, throwing for 4,280 yards and 31 touchdowns. San Francisco reached the Super Bowl against the Kansas City Chiefs and held a 10-point lead shortly before halftime, though the 49ers ultimately lost in overtime.

Last season was forgettable as the Niners battled through player injuries and unrest. Purdy didn’t have the same quality passing numbers, but he did become more of a rushing threat. 

Purdy will certainly have more pressure on his shoulders now. He’s tied with Detroit Lions quarterback Jared Goff for the sixth-highest average annual value among all NFL players. Only Dak Prescott ($60 million), Joe Burrow ($55 million), Trevor Lawrence ($55 million), Jordan Love ($55 million), and Tua Tagovailoa ($53.1 million) will earn more per year.

After his strong play, Purdy is no longer “Mr. Irrelevant.” With this big contract, the 49ers hope he’ll become “Mr. Super Bowl Champion.”