The 49ers wanted to get a long-term contract done with restricted free agent receiver Brandon Lloyd, but Lloyd’s demands exceeded what the 49ers were willing to pay.
Instead, the 49ers virtually locked up Lloyd for another season with a one-year, $1.552 tender. The 49ers own the right of first refusal and would receive a first-round pick as compensation if Lloyd signs an offer sheet with another club.
The 49ers debated for much of the last couple months at what level to tender Lloyd, a fourth-round pick in 2003. But because of the dearth of starting caliber receivers available through free agency and the draft, the 49ers felt they could not take any chances with Lloyd.
"You have to look at the entire picture, but first he has to warrant it just by his ability to play," 49ers coach Mike Nolan said.
