The San Francisco 49ers have always been a run-first offense under head coach Kyle Shanahan. However, it got taken to a new level when they made a deal with the Carolina Panthers for Christian McCaffrey just ahead of the 2022 NFL trade deadline.
Coming off of a 2023 season that saw him win NFL Offensive Player of the Year, he’s proven to be a spark that set the blaze in the 49ers’ vaunted running attack.
With that in mind, it’s time to take a look back at the trade and figure out just how badly the 49ers won this deal with the Panthers.
Looking Back at the Christian McCaffrey Trade
McCaffrey was traded on Oct. 20, 2022, before the deadline.
What did the Panthers earn in exchange? They received:
- 2023 second-round pick, No. 61 overall (TE Brenton Strange)
- 2023 third-round pick, No. 93 overall (TE Darnell Washington)
- 2023 fourth-round pick, No. 132 overall (EDGE Nick Herbig)
- 2024 fifth-round pick, No. 157 overall (CB Chau Smith Wade)
The Panthers included the No. 61 pick in their trade-up with the Chicago Bears to secure the No. 1 overall pick in the 2023 NFL Draft, which they used on QB Bryce Young. Carolina also traded picks No. 93 and No. 132 in the third round that same draft to the Pittsburgh Steelers to move up to No. 80 for EDGE DJ Johnson.
This move also allowed the 49ers to send RB Jeff Wilson Jr. to the Miami Dolphins, earning a fifth-round pick back in the process.
Who Won the McCaffrey Trade?
Christian McCaffrey’s impact was especially evident when the 49ers turned to Brock Purdy, their third-string quarterback. McCaffrey helped ease Purdy’s transition in Week 8 against the Los Angeles Rams, racking up 149 total yards and two touchdowns in a dominant 31-14 win.
After being traded in 2022, McCaffrey posted four 100-yard rushing games, including 119-yard performances in victories over the Tampa Bay Buccaneers and Seattle Seahawks, the latter coming in the playoffs. His versatility and relentless running kept the 49ers competitive until their NFC Championship loss to the Philadelphia Eagles.
In his first full season under Kyle Shanahan’s zone-read system in 2023, McCaffrey thrived, rushing for a career-high 1,459 yards and elevating the 49ers to third in the league in rushing yards during their run to Super Bowl 58.
Equally effective as a receiver, McCaffrey added 564 receiving yards, finishing the season with 2,023 all-purpose yards — the second 2,000-yard season of his career. He was named NFL Offensive Player of the Year and made his first Super Bowl appearance.
In the end, McCaffrey signed a two-year, $38 million extension over the summer before the 2024 season.
How have the Panthers fared since the trade? Not great, as they hit a league-worst 2-15 record in 2023 and ranked 30th in rushing touchdowns. Chuba Hubbard led the team in rushing but managed just 902 yards.
Young struggled in his rookie season, facing widespread criticism for his performance. On defense, Johnson made minimal impact for Carolina.
Miles Sanders, brought in to replace McCaffrey on a four-year, $25.4 million deal, was a free agent bust, producing only 432 rushing yards. Carolina is now in dire need of talent around Young, and McCaffrey would have provided a valuable veteran presence had they kept him.
While the trade cleared cap space and brought future draft picks, the 2023 season suggests the Panthers are in for a slow rebuild under Young. Even the running back position is uncertain, with the team selecting Jonathon Brooks in the second round of the 2024 NFL Draft.
In hindsight, it’s clear the 49ers won the trade. McCaffrey helped power San Francisco to an NFC Championship appearance and then the Super Bowl over two seasons. He also signed a new deal that locks him into the Bay Area for two more years, freeing him from a Panthers contract that would have ended in 2025.
McCaffrey himself emerged as a big winner in this scenario. He quickly became a key piece in an offense already featuring All-Pros Deebo Samuel Sr. and George Kittle, helping keep the 49ers in the NFC title hunt in 2022 and 2023 and forming a solid QB/RB duo with Purdy.
The 2022 midseason blockbuster trade has also influenced the running back market across the league. McCaffrey’s new deal offers hope to other star RBs seeking similar contracts, showing what’s possible when teams invest in top talent.