The 49ers want to keep wide receiver Jauan Jennings for a while, though he will be free to negotiate with other teams.

But that will come at a cost, though.

The 49ers on Monday announced they have put a second-round tender on Jennings as a restricted free agent since he’s a three-year NFL veteran on an expiring contract.

Jennings is set to make $4.89 million on the tender for the 2024 season, and the sides can continue to negotiate a multi-year extension.

The decision appears to nearly guarantee that Jennings will return to the 49ers. Any team that signs him to an offer sheet would part with a second-round draft pick if San Francisco decided to decline to match the terms of the contract.

The deadline for teams to sign restricted free agents to offer sheets is April 19.

Jennings has 78 receptions for 963 yards and seven touchdowns over 45 games of his three-year career. He added 20 catches for 221 yards and one touchdown in nine postseason games.

Jennings had a big game for the 49ers in Super Bowl LVIII, catching four passes for 42 yards and a touchdown. He also threw a 21-yard touchdown pass to running back Christian McCaffrey.

He took over as the 49ers’ No. 3 receiver after Kendrick Bourne signed with the New England Patriots in 2021 as a free agent.

Jennings became such a big part of the 49ers’ offense in crucial situations that his targets became known as “Third and Jauan.”

The 49ers selected Jennings in the seventh round of the 2020 NFL Draft with the No. 217 overall selection out of Tennessee.

Jennings was among the 49ers’ final cuts before the start of his rookie season. He began the season on San Francisco’s practice squad and ended up going on injured reserve with a severe hamstring injury.

DE Leonard Floyd, 49ers agree to two-year, $20M contract

The 49ers are reinforcing their defensive line.

San Francisco agreed to terms with edge rusher Leonard Floyd on a two-year, $20 million contract that includes $12 million guaranteed in 2024, NFL Network’s Ian Rapoport reported on Monday, citing a source. Floyd, 31, spent the 2023 NFL season with the Buffalo Bills, recording 10.5 sacks in 17 regular-season games.

Source: The #49ers are signing Leonard Floyd. Big-time edge help.

— Ian Rapoport (@RapSheet) March 11, 2024

He gets a 2-year, $20M deal worth up to $24M, source said. He gets $12M guaranteed in year 1. https://t.co/CbNrKjsysZ

— Ian Rapoport (@RapSheet) March 11, 2024

Floyd appeared to confirm the report a few minutes later with a post on X, formerly known as Twitter.

San Fran!!!!! Im giving you my best yet

— L8F4➰➰ (@Leonard90Flo) March 11, 2024

Floyd’s recent pass rushing production has been a model of consistency, with the former first-round draft pick recording at least nine sacks in each of the last four seasons.

The 31-year-old was selected with the No. 9 overall selection in the 2016 NFL Draft, spending four seasons with the Chicago Bears before stints with the Los Angeles Rams and Bills. Floyd has recorded five playoff sacks in nine career postseason games, winning Super Bowl LVI as a key cog in the Rams’ defense.