WEDNESDAY, 1:22pm: Lloyd’s deal includes no guaranteed money, a source tells Matt Maiocco of CSNBayArea.com. However, the wide receiver can earn $1.005MM on the deal. He’ll get a $955K base with $50K available through a workout bonus. The deal doesn’t have a signing bonus or incentives.
Lloyd, who is just two years removed from a 74-catch season, reportedly received inquiries from at least six teams last fall, including the 49ers, but rejected all overtures. A Pro Football Talk report at the time suggested Lloyd was “neither physically nor mentally ready” to continue his playing career at that point, but it seems the 32-year-old has changed his stance since then.
The 49ers pursued receivers like Julian Edelman and Emmanuel Sanders earlier in the offseason, but were only able to lock up their own free agent wideout, Anquan Boldin. That left San Francisco with a solid 1-2 punch of Boldin and Michael Crabtree, but the club was clearly looking for alternatives at the No. 3 spot. Lloyd, who was originally drafted by San Francisco in 2003, will presumably have the upper hand for that third receiver role over players like Quinton Patton and Jonathan Baldwin.
Matt Maiocco of CSNBayArea.com first reported last week that the Niners were in talks with Lloyd about a possible comeback.