The 49ers made it official on Thursday night, selecting North Dakota State's Trey Lance with the No. 3 overall pick in the 2021 NFL Draft.
The league has structured the contracts for each pick in the first round of the draft, so here are the details on Lance's first NFL contract.
There are certain things that can be negotiated depending on how the 49ers and Lance want to approach the contract, but $34.1 million is the baseline for a third overall selection.
Lance comes to the 49ers after a college career at NDSU that included a Football Championship Subdivision (FCS) national championship in 2019. He only played one game in the 2020 season after NDSU's fall season was canceled due to the coronavirus pandemic.
Kyle Shanahan has chosen Lance as the next franchise quarterback in the Bay Area, and now he will have to prove that he was worth the hefty package the 49ers sent to the Miami Dolphins in order to move up to No. 3.