49ers 2nd Round Pick Projected to Receive $20M Deal in Free Agency

In just one week, the NFL free agency signing period will officially begin, marking the start of a new league year on March 12 at 1 p.m. PT. With teams preparing to make moves, ESPN’s Jeremy Fowler reported on Wednesday that organizations have been informed defensive tackle Javon Hargrave is expected to be fully healthy after recovering from a triceps injury. Hargrave will likely find a new home soon, but he isn’t the only San Francisco 49ers player poised for a big payday as left guard Aaron Banks is in a prime position to cash-in this offseason.

Aaron Banks: A Top Free-Agent Guard

NFL Network’s Tom Pelissero recently highlighted several impending free agents who could secure more lucrative contracts than expected. According to Pelissero, Aaron Banks ranks second among players ready to secure a significant payday.

Following the Kansas City Chiefs’ decision to use the franchise tag on Trey Smith, Banks has become one of the most sought-after guards on the market—possibly even the top option. A second-round pick out of Notre Dame in 2021 (No. 48 overall), Banks had an impressive 2023 season. According to Pro Football Focus, he allowed just one sack across 471 pass-blocking snaps while earning a career-best 67.2 PFF grade in 13 starts.

With offensive linemen seeing substantial contracts in free agency, Banks could command a deal similar to the one Robert Hunt secured last March. Hunt signed a five-year, $100 million contract with the Carolina Panthers. Given the current market, Banks could realistically land a contract in the range of $18 million to $20 million per season. Currently, six NFL guards earn at least $18 million annually, putting Banks in a position to join that elite group.

Will the 49ers Let Banks Walk?

The 49ers may actually benefit from Banks signing a lucrative deal elsewhere. If he lands a top-tier contract, San Francisco would receive a valuable compensatory pick. “The 49ers would love everything about Banks signing a contract above market,” Pelissero wrote. Paying him like a top-six guard would likely secure them a strong draft asset in return.

However, despite Banks’ market value, some concerns remain. He struggled at times in pass protection last season, finishing near the top of the leaderboard in blown blocks. Though his potential as a free agent is high, history suggests teams often overpay for linemen, only to regret it down the line.

The 49ers have seen this scenario play out before. Laken Tomlinson left in free agency a few years ago but has since bounced between two different teams. Mike McGlinchey struggled significantly in his first year with the Denver Broncos before improving in his second season. San Francisco’s offensive scheme has a proven track record of elevating linemen, a factor many teams around the league have yet to recognize.

Instead of committing significant cap space to retain Aaron Banks, the San Francisco 49ers may opt to develop talent already on their roster—at a fraction of the cost. If they can replace his production while securing a compensatory pick, moving on from Banks could be the smarter long-term decision.