Our national nightmare is over.

One of the most memorable layoffs in recent memory has come to an end, as ESPN’s Adam Schefter reports that the 49ers have agreed to terms with Brandon Aiyuk on a four-year, $120 million contract extension, including $76 million in guaranteed money.

After reports that multiple teams were interested in Aiyuk and the Steelers reportedly struck a deal to trade the star receiver and have him sign a contract, the receiver remains in his fifth year in the Bay Area with one of the league’s most dynamic offenses, hoping for another shot at the Lombardi Trophy.

A return to San Francisco was always going to be the best-case scenario for Aiyuk in fantasy terms. A trade to the Steelers — who always felt like the most likely prospect for a trade — would have been disastrous on all fronts. One can only imagine how depressing it would be to watch a talent like Aiyuk spend 17 games blocking in Arthur Smith’s offense while chasing a handful of targets per game from Russell Wilson and Justin Fields, but thankfully we were spared that reality.

Aiyuk has been partying the last two years, particularly with Brock Purdy at quarterback. Since entering the league in 2020, Aiyuk has averaged 13.6 points per game in PPR leagues. However, in 24 games played with Purdy, Aiyuk has averaged 15.2 fantasy points per game, according to the RotoViz Game Splits App and is on a 17-game pace for 79-1303-8.

It goes without saying that Aiyuk was a crucial part of the 49ers’ offensive success last season, but his efficiency and ability to create after the catch also played a crucial role in Purdy’s success, which is worth remembering for a quarterback who currently ranked 11th quarterback on the board in Yahoo leagues.

According to PFF, among receivers who saw 80 or more targets, Aiyuk ranks 20th in YAC/REC and third in YPRR (3.01) behind Tyreek Hill and Nico Collins. Aiyuk’s 2.5 receiving touchdowns above expected also tied for fifth-best among receivers and played a role in Purdy vastly exceeding his expected touchdown total of 22.0. Purdy’s nine touchdowns above expected were far and away the most of any quarterback — for perspective, Joe Flacco was second with 3.1 touchdowns above expected in 2023.

Purdy finished last season as the 10th QB in fantasy points per game despite ranking as the 22nd QB in expected fantasy points. The return of Aiyuk keeps Purdy’s fantasy ceiling high, making him a potential hit in terms of fantasy value.

Deebo Samuel’s fantasy season takes a slight hit with the return of Aiyuk , but fantasy managers shouldn’t be too negative about him. We’ve just seen three straight years of the “Deebo Role” in action, as Samuel continues to be utilized through the air and on the ground. Though his 37 rushing attempts were his fewest since 2020, Samuel still managed to rush for 225 yards and five scores while posting a 60-892-7 line through the air. He’s been a top-15 fantasy receiver in two of his last three seasons and continues to project as a high-end WR2 with plenty of WR1 upside on a weekly basis.

Ricky Pearsall is the player most negatively impacted by Aiyuk’s return. The rookie first-rounder now becomes the third receiver in an offense that will likely prioritize Aiyuk, Samuel, Samuel and Christian McCaffrey in the passing game for the foreseeable future. Pearsall could still provide the occasional spike week for best-ball draftees who don’t have to make weekly start/sit decisions, but he’ll be tough to rely on in start/sit leagues when the roster is at full strength.

The Impact of the Steelers

It goes without saying that George Pickens remains the undisputed WR1 in a Steelers receiver room where no other star matters. With Diontae Johnson in Carolina, Pickens is poised to monopolize a significant portion of the Steelers’ target share.

We only have a four-game sample size to go off of, but since 2022, in the four games he’s played without Johnson, Pickens has averaged 16.6 fantasy points per game to go along with 8.3 targets per game. Through a 17-game stretch, he’s gone 72-1517-8. In the unlikely event he can reach those totals, Pickens would be one of the best values ​​in all of fantasy land in 2024, and the switch from Kenny Pickett to Russell Wilson/Justin Fields is still an improvement — albeit a marginal one.

Expectations have yet to be tempered, but any concerns that Aiyuk would be a target can now be alleviated by Pickens, who is listed as WR28 in Yahoo. He is far from a free agent, but Pickens could be a nice value on Zero RB rosters that allow you to start four or five receivers.

Tight end Pat Freiermuth also remains a valuable dart throw in the later rounds for draftees moving down the position. After totaling 123 receptions for 1,229 yards and nine touchdowns in his first two years as a pro, Freiermuth struggled, going 32-308-2 in 2023. Injuries played a role in those low totals, as Freiermuth was limited to 12 games, but he was far from the player who had a 700-yard season in 2022.

Reports this offseason have been encouraging for Freiermuth, who reportedly developed good chemistry with Wilson during the offseason and training camp. I touched on this in my 2024 Pittsburgh Steelers Fantasy Preview earlier in the year. With a chance to play more from the slot this season, Freiermuth has a chance to flourish. From 2021-23, the Falcons, under Smith, targeted tight ends from the slight 172 times — fourth-most in the league. Friermuth also ranks sixth among 42 tight ends in fantasy points per route run from the slot (0.61) over the past two years.

Second-year tight end Darnell Washington reportedly struggled with the passing game this offseason, meaning the majority of tight end targets should go to Freiermuth, who could be pegged as the No. 2 option in the target pecking order. Aiyuk would easily have relegated him to the third, and maybe even fourth, position when it comes to running back targets.