The 49ers created $2.616 million in salary cap room Wednesday as linebacker NaVorro Bowman agreed to a restructured contract, a source confirmed.
The 49ers converted $3.27 million of Bowman’s scheduled base salary for 2014 into an up-front signing bonus that can be spread over the course of his contract. Bowman is signed through 2018.
As a result, Bowman’s salary cap figure for 2014 drops from $7.05 million to $4.434 million.
But his salary cap figure for future seasons rises. In 2015, Bowman’s cap figure goes from $7.75 million to $8.404 million; in 2016 from $8.9 million to $9.554 million; in 2017 from $8.3 million to $8.954 million; and in 2018 from $9.45 million to $10.104 million.
The 49ers are now $2.873 million under the salary cap with seven of their 12 draft picks signed.