Peters literally came out and said that the cap was only one of the factors in their budget. And they have a cash budget he has to adhere to. He's said it several times.
Also, They have spent the 4th most cash in the NFL this off-season at $226M.
This is according to Yahoo:
https://sports.yahoo.com/articles/nfl-free-agency-spending-much-184559597.html
Tennessee Titans: $300,952,000
Las Vegas Raiders: $283,170,000
Indianapolis Colts: $235,000,000
Washington Commanders: $225,910,000
New England Patriots: $183,830,000
That's a lot of cash to spend. Would it surprise me to learn there is a cash budget for an NFL team, even one with an owner willing to spend a lot of cash? Not at all.
Now, do I think the difference of a couple of million dollars here or there is going to make a ton of difference? I personally don't.
I also don't think they're waiting out Aiyuk. Everybody knows there is interest. However, everybody also knows he's stuck on the 49ers and that isn't changing anytime soon.
Peters would be a damn fool if he thinks he can just wait out the 49ers. So I see one of a few things happening:
1. They just say "eff it we're not waiting out Kyle and Lynch's grudge match" and sign Diggs or somebody else. Diggs hasn't signed anywhere for very obvious reasons. Practically speaking, he only became available this week. He will want to talk to a few teams and will have a few spots to go. But they could, and very will might go this route.
2. They just say "eff it" and do some nominal deal with the 49ers to end this absolutely stupid and ridiculous situation. Something like a 6th for Aiyuk and a 7th. Late round pick swap plus tear up the contract and sign a new one. That's really nothing in the grand scheme of things in terms of compensation, and if they really want him, just do it and be done with. If SF wants more than that, screw them.
3. They literally just do nothing. They really are comfortable with who they have, and will then be proven right or wrong in their trust of the guys on the roster. That's going to infuriate some folks. I'm going to patiently wait and see how it plays out.
We'll see. I hope they don't make a mistake. But they could sit pat and then if they have a top 5 offense, it will all be ok. They did have a top 5 offense in 2024, and the WRs were Terry + a bunch of guys. This year they have Terry + a bunch of guys, but a more explosive TE, and better pass catching capability out of the backfield. Will it be enough? We might find out. We also might not because they might sign Diggs.