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San Francisco 49ers running back Christian McCaffrey is signing a two-year, $38 million extension, ESPN reported Tuesday.

The deal reportedly includes $24 million in guarantees for the 2023 NFL Offensive Player of the Year, who led the league with 1,459 rushing yards last season.

With an average annual value of $19 million per season, McCaffrey raised his own bar for NFL running backs. His previous deal averaged $16 million per year.

Alvin Kamara of the New Orleans Saints ranks second at the position with $15 million per season, per Spotrac.

The extension also keeps McCaffrey under contract with the 49ers through 2027.

McCaffrey, who turns 28 on Friday, also led the NFL with 2,023 yards from scrimmage and in 16 starts shared the league lead with 21 rushing/receiving touchdowns, along with Miami’s Raheem Mostert.

A three-time Pro Bowl selection and two-time first-team All-Pro, McCaffrey has rushed for 6,185 yards and 52 touchdowns. He also has 509 receptions for 4,320 yards and 29 scores in 91 games (84 starts) with the Carolina Panthers (2017-22) and 49ers (2022-23).

McCaffrey was the eighth overall pick in 2017 by Carolina, who traded him to San Francisco on Oct. 20, 2022 for a package of draft picks.

–Field Level Media