Reading the room, it sure seems as if 2025 will be the last for wide receiver Jauan Jennings playing with the San Francisco 49ers.
The only remaining question is whether or not he finishes the year in the red and gold or finds himself dealt between now and the Nov. 4 NFL trade deadline.
Jennings, who understandably asked for either a hefty extension or trade last offseason, received only an incentive-based raise entering the final year of his current contract, and considering his numbers this season have been a far cry from the career-best 975 yards posted in 2024, it's safe to say the Niners were wise not to cave to his demands.
That's only part of the likely rift between Jennings and San Francisco, though.
Jennings got into a sideline spat with head coach Kyle Shanahan earlier this season, and the former might have sabotaged his own trade value by admitting a slew of injuries to which the head coach subsequently admitted were getting better -- of note to teams seeking wide receiver help by the deadline.
Considering the slew of other needs the 49ers have amid yet another injury-plagued campaign, might Jennings be used as trade bait?
Signs point to "yes."
Latest NFL trade deadline buzz suggests Jauan Jennings could be moved
Jennings' importance to the Niners will diminish as the season moves along, particularly when injured wideouts Ricky Pearsall and Brandon Aiyuk return to the field. Paired with returning veteran Kendrick Bourne, Jennings' value is clearly plummeting.
Taking account what's going on around the league in the days counting down to the deadline, ESPN's Jeremy Fowler circled Jennings (alongside the Las Vegas Raiders' Jakobi Meyers) as receivers who could "use a fresh start," having written:
"Much is made of Jakobi Meyers' trade prospects out of Las Vegas, but let's not forget about San Francisco's Jauan Jennings, who also asked for a trade in the offseason over the lack of a new deal. Despite nearly 1,000 yards in 2024, Jennings is off to a slower start this season, ranking fifth on the 49ers in receiving (212). Both sides could use a fresh start."
San Francisco might opt to let Jennings play out the rest of the year before letting him walk in free agency, hoping to land a compensatory draft pick for his departure.
But, known draft commodities are far more valuable at this point in the calendar year, meaning the 49ers would likely be more active in shopping him than they'd be in merely banking on future assets that may or may not equate to his market value.
It's also a story in itself that Fowler dropped Jennings' name in his report, which could indicate he got information either from the receiver's agent, asking in a roundabout way for the Niners to move him, or from San Francisco's front office, suggesting it's open for business regarding Jennings' services.
Either way, the name drop is a clear-cut sign "Third and Jauan" might be on the move much sooner than expected.
All parties have until Nov. 4 to find out.