After four years with the New Orleans Saints, Chris Olave could be moving on at the 2025 NFL trade deadline. The star receiver has several potential suitors, including the San Francisco 49ers, who could emerge as a late sleeper candidate.
The 49ers have been set at receiver for years, and 2025 is no different. They traded star Deebo Samuel in the offseason, but only to make space for emerging stars Jauan Jennings and Ricky Pearsall.
Jennings and Pearsall have shone in different moments in 2025, but both have spent more time on the injury report than on the field. As a result, Christian McCaffrey has been San Francisco's leading receiver early on, with Kendrick Bourne emerging as a surprisingly potent target in the passing game.
The frustrating injuries sum up what has repeatedly limited the 49ers in recent years. As talented as they tend to be, their stars fail to deliver solely due to unavailability.
Adding Olave, a 25-year-old banged-up receiver who has already suffered four concussions in as many years in the NFL, does not soothe those concerns. However, the 49ers could still target him as a swap for Jennings, who has expressed frustration with the team over his contract.
Olave is in a similar situation with the Saints and has yet to receive an extension despite being eligible for one in the offseason. New Orleans' hesitancy to extend Olave has played a part in the trade rumors, though the team claims that it still intends to keep him long-term.
The most likely scenario is that Olave remains with the Saints through the trade deadline. Regardless, the 49ers are acutely aware of how fickle these situations can be, having insisted they would not trade Samuel throughout the 2024 season, only to move him at the start of the offseason.
49ers' potential Chris Olave trade offer
49ers receive: WR Chris Olave, 2027 sixth-round pick
Saints receive: WR Jauan Jennings, 2026 fourth-round pick
The 49ers need a reliable receiver, and the Saints need a potential suitor. Neither answer is ideal for the other, but if San Francisco is going to execute this deal, it will likely look something similar to this proposition.
As a player three years older than Olave with a shorter track record of proven success, Jennings is not an ideal haul for the Saints. However, he is a reliable veteran who has proven capable of leading a passing attack and would be a valuable addition to a young offense. Jennings has been a mainstay of the 49ers' 2025 injury report, but has otherwise been the team's most reliable and consistent wideout throughout his career.
By gaining Jennings, the Saints give Spencer Rattler another reliable pass-catcher who thrives at winning one-on-one man coverage matchups. New Orleans does not currently have a go-to option in single coverages, including Olave.
On the flip side, Olave would immediately elevate a somewhat disappointing 49ers' passing game. Ricky Pearsall looks to be their clear No. 1 receiver for the future, but Olave's addition would put San Francisco's receiving corps among the best in the league. Once Brandon Aiyuk returns, it would be difficult to identify a better three-man tandem.
The Saints would likely have to extend Jennings upon acquiring him, which could provide a roadblock, considering how hesitant they have been with Olave. That variable could axe this proposal before it even gets off the ground, but locking up a veteran like Jennings would be beneficial for the Saints in the long term.
Jennings' reliability and consistency would be valuable, but the Saints would be more interested in the fourth-round draft pick. New Orleans is currently one of the most obvious rebuilding organizations in the league, but has just six selections in the 2026 NFL Draft.
Adding another fourth-rounder, an expendable asset for a 49ers team that has multiple round four picks, would be a valuable addition. A pick swap would ideally be enough to close the deal, with the Saints sending their final 2027 selection to the 49ers.
