Fred Warner agreed to a record-breaking extension with the 49ers on Wednesday. We heard at the time it was for five years and a whopping $95MM, and now we have the full details.

For starters, the contract comes with $40.5MM guaranteed, Ian Rapoport of NFL.com reports. But beyond that, Rapoport writes that the pact has a “unique structure that essentially makes it two deals in one.” Warner’s contract is for five years, but voids after the first three. He’ll get $54.9MM in new money over those three years, an average of $18.3MM per year.

That’s slightly less than the $19MM per year implied by the 5/95, but it still beats Bobby Wagner‘s 2019 extension ($18MM AAV) to make him the highest-paid inside linebacker in NFL history. Where it gets a bit complicated is that the 49ers can then “buy back” the final two years of the deal after they’ve voided if they choose to, by paying Warner $21.85MM in 2025.

That would mean Warner would get $76.75MM over the first four years, an average of around $19.2MM annually. The way Rapsheet describes it, it’s a “record-breaking short-term extension that’s nearly 70 percent guaranteed” for Warner, that “also gives the 49ers a choice to make a few years down the road.”

Warner was a first-team All-Pro last season and has been an extremely reliable asset for Kyle Shanahan’s defense, playing 95 percent of the snaps the past three years.

Fred Warner has become one of the NFL’s best linebackers. He joins Nick Bosa as a cornerstone front-seven 49ers piece on a rookie contract. Kyle Shanahan expects that status to change in the near future.

One year remains on Warner’s rookie pact. Although the former third-round pick’s salary is set to spike to $3.38MM this season, he will command top-tier off-ball linebacker money on an extension. The 49ers appear prepared to pay him as such.

“I want to get it done personally,” Shanahan said of a Warner extension (via NFL.com). “I kind of feel like I’d say the same about him as I did about [George] Kittle when we were talking about it [last year]. I just see that kind of as a matter of time.

“I know he’s not going into his free agent year or anything like that, so that’s why it’s not always on my mind. But Fred’s a guy that I plan on being here forever and who has earned that. I’d be surprised if that doesn’t start sooner than later.”

Warner earned first-team All-Pro acclaim in 2020, when he made 125 tackles and graded as Pro Football Focus’ No. 1 off-ball linebacker (by far). The 24-year-old defender said Tuesday he wants to be a “Niner for life.”

The 49ers have exclusive negotiating rights with Warner until the start of the 2022 league year next March. They would have the franchise tag at their disposal, should a deal remain elusive. Kittle signed his top-market extension last August, ahead of his fourth season. Warner may be on a similar timetable. No talks have begun just yet, but they appear imminent.

C.J. Mosley‘s $17MM-per-year contract has yet to benefit the Jets, but the 2019 deal changed the market for traditional linebackers. Bobby Wagner then topped it, via an $18MM-AAV pact, later that year. Both Warner and Darius Leonard are entering contract years; one of them will be in line to surpass Wagner’s deal and perhaps become the league’s first $20MM-per-year non-rush ‘backer.

The 49ers, naturally, would like to extend star linebacker Fred Warner, who is eligible for free agency at the end of the 2021 campaign. However, Ian Rapoport of the NFL Network says no contract talks have taken place just yet (video link).

That doesn’t mean that negotiations will not commence soon, and look for San Francisco GM John Lynch to do his utmost to keep Warner in the fold for the long haul. The BYU product was selected in the third round of the 2018 draft, and he has played virtually every snap for the Niners over his first three professional seasons.

During that time, Warner has established himself as one of the top off-ball LBs in football. In fact, Pro Football Focus’ advanced metrics considered him the best linebacker in the league in 2020, thanks in large part to his stellar 91.1 coverage grade. Warner landed his first Pro Bowl and First Team All-Pro honors for his efforts.

We heard earlier today that Darius Leonard, another premier linebacker taken in the 2018 draft — he was chosen 34 spots ahead of Warner — will not be giving the Colts a hometown discount in his negotiations with the club. Rapoport suggests that both Leonard and Warner have a good chance to eclipse Bobby Wagner‘s $18MM AAV, which currently tops the inside linebacker market.

It will be interesting to see which player signs first, as that player’s deal will likely push the second player’s asking price just a little higher. Leonard and Warner have had similar career trajectories to this point, and though Warner is over a year younger than his Indianapolis counterpart, Leonard has two Pro Bowl bids and two First Team All-Pro honors to his credit. Either way, both players have a good chance of landing massive multi-year deals in the coming months.