49ers release CB to free up significant salary cap space. Oliver

The 49ers have a lot of questions going into the offseason. Matt Maiocco and Jennifer Lee Chan break those down and explain why Brandon Aiyuk should be their top priority.
Friday marked the start of the 49ers’ financial manoeuvres, which came just hours after the NFL declared a greater than $30 million salary cap raise for the 2024 campaign.

San Francisco immediately saves $2.4 million in cap space with the release of veteran cornerback Isaiah Oliver.

Oliver, San Francisco’s top nickel back since Jimmie Ward’s departure, inked a two-year, $6.75 million contract with the 49ers as an unrestricted free agent last offseason.

Oliver, though, found it difficult to fill that position and was eventually limited to special teams usage.

Oliver’s nickel back position was taken over by starting cornerback Deommodore Lenoir in the midst of the season with

The 49ers’ biggest offseason goal seems to be adding a guy to improve the team’s coverage of the opposing slot receiver.

Oliver, a six-year NFL veteran, was a member of the Atlanta Falcons for his first five seasons. He played with the 49ers in all 17 regular-season games, starting six of them.

The 49ers went into their Week 9 bye with a three-game losing streak, so the 27-year-old was swapped out as the nickel back.

According to Pro Football Focus, Oliver gave up 46 completions on 51 throws that he targeted when in pass coverage. Despite only intercepting one ball, he allowed three touchdowns and 320 yards of receiving yardage.

Oliver signed a $2.91 million fully guaranteed contract with the 49ers. His departure frees up salary cap space for them, but he will still be charged $1.46 million in dead money against San Francisco’s 2024 salary ceiling.

The NFL on Friday

Oliver can now sign with any team at any moment as he is a free agent. Oliver will not be included against the 49ers’ compensation formula because he was released by the team.