The San Francisco 49ers are sitting pretty at the top of the NFL's salary cap standings, and it's all thanks to a masterfully structured deal for their cornerstone left tackle, Trent Williams. According to Over the Cap, the 49ers now boast a league-leading $71.27 million in cap space, outpacing the next closest team—the Tennessee Titans at $63.11 million—by a solid margin. The Washington Commanders ($49.50M), Los Angeles Chargers ($45.81M), and Arizona Cardinals ($40.83M) round out the top five.

But how did the 49ers get here? It starts with the two-year, $50 million contract Williams signed a few weeks ago, which replaces his prior deal. The contract guarantees Williams $48.5 million, including a $22.2 million signing bonus and his 2026 salary. There are also per-game and workout bonuses worth $100,000 each, both fully guaranteed. In 2027, Williams' base salary and an $11 million option bonus become guaranteed, with the 49ers having until September 1 to exercise that option—or convert it to a roster bonus. If Williams is on the roster by September 1, 2027, and doesn't hold out or miss any offseason time, he'll earn an $11.5 million roster bonus in 2028, which becomes fully guaranteed once earned.

True to the 49ers' style, the contract includes four void years for salary cap purposes. This allows the team to spread Williams' $56.27 million signing bonus over five years instead of just two, giving them more flexibility to manage the cap. It also helps stretch out the option and regular roster bonuses. According to Over the Cap, the 49ers could potentially get out of Williams' contract with a post-June 1 designation in 2028 if needed. The team also has until the 10th day of the league year to terminate or extend the contract to prevent a $50.175 million 2029 roster bonus from becoming fully guaranteed. Additionally, there are per-game bonuses worth up to $900,000 per year for the first two years, with a $500,000 regular bonus for 2027.

When looking at effective cap space—which accounts for signing at least 51 players and the projected rookie class—the 49ers still dominate. They project to have $67.8 million, far ahead of Robert Saleh's Titans at $51.24 million. This financial cushion is a testament to the 49ers' strategic planning, positioning themselves not just for the current season, but for the years ahead. While other teams scramble to fit under the cap, San Francisco has built a roster that can contend now while maintaining flexibility for future moves.