At a surface level, it sure seems as if the San Francisco 49ers lost the offseason blockbuster trade of All-Pro wide receiver Deebo Samuel to the Washington Commanders.
After all, all the Niners got back in return was a fifth-round pick in the 2025 NFL Draft, a selection subsequently used on Oregon running back Jordan James.
Of course, if James turns into a household name and perennial Pro Bowler, it'll be easy to say San Francisco ultimately won the deal with Washington. But that's yet to be determined.
In the interim, Bleacher Report's Kristopher Knox identified the Commanders as clear winners of the shocking trade, while the 49ers were the ones on the wrong side of the win-loss equation.
Describing the deal, Knox wrote:
While the 29-year-old had a down season in 2024, his upside as a multi-faceted runner and receiver makes the movea win for bothWashington and second-year quarterback Jayden Daniels.
San Francisco wasn't as clearly a winner, considering the low return, but this wasn't the worst move for the 49ers.
Samuel was entering a contract year and had asked the 49ers to help him find a new home.
"It was a hard conversation to have with Kyle (Shanahan) because of the relationship that we have," he said, per ESPN'sAdam Schefter. "But I have to do what's best."
While the 49ers ate a $31 million dead-cap hit to trade Samuel, they made a clean financial break—he had void years running through 2029. This helped give general manager John Lynch a clear path extending both tight end George Kittle and quarterback Brock Purdy during the offseason.
The Commanders, meanwhile, got a versatile offensive weapon who should complement Kliff Kingsbury's offense. After a contract restructuring, Samuel will carry a cap hit of just$5.2 millionthis season.
The dead cap the Niners absorbed certainly influenced Knox's decision to give the Niners a lower-end C-plus grade, whereas the Commanders received an A-grade for pulling off the coup and adding a new playmaking weapon to increase their playoff hopes entering 2025.
From that vantage point, combined with netting a mere day-three pick in exchange for Samuel, it's easy to see why San Francisco "lost" the deal.
However, Knox didn't exactly dive deeply enough into a key truth behind the trade.
By now, it's common knowledge the 49ers wanted to trim cash spending (not cap space) after being a league-leader in that category a year ago. It was part of a franchise-wide effort to get both younger and cheaper in the wake of a frustrating 6-11 campaign in 2024.
In doing so, the Niners generated over $17 million in pure cash, and by trading Samuel prior to his 2025 roster bonus becoming guaranteed, they wouldn't owe him another dime. Period.
That's important to acknowledge.
Granted, the business aspects of player movement often get glossed over, as contract maxes and cap space tend to dominate the conversation over actual cash spend. Plus, considering Samuel is a household name, it's also fair to recognize that getting a fifth-round pick back in exchange seems awfully cheap, thereby prompting a "losing" grade for San Francisco in the process.
Losing or not, though, it was a move the 49ers ultimately made the best out of when considering the context.
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