The contract includes a no-trade clause and a no-tag clause, per Schefter. The compensation is reportedly $6.5 million fully guaranteed, with another potential $9.5 million in bonuses.
In five seasons with the team, Garoppolo completed 67.7% of his passes, throwing for 11,162 yards, 66 TDs and 38 interceptions in 46 games (45 starts).
Garoppolo signed a five-year, $137.5 million deal in 2018 and was thought to be the team's long-term solution at the position. That all changed when the 49ers made a bold, expensive trade up in the 2021 NFL draft for QB Trey Lance, who the 49ers have named their starter heading into this season.
The 49ers couldn't find a trade partner for Garoppolo, and have decided to keep him.
San Francisco's regular-season record with Garoppolo starting was 31-14. (The team's record with other quarterbacks starting during Garoppolo's run in San Francisco was a combined 8-20.) The 49ers also went 4-2 with Garoppolo starting in the postseason, including trips to the Super Bowl and NFC championship game.