49ers cut CB Isaiah Oliver, save $2.4 million on 2024 salary cap

Feb 23, 2024, 2:15 PM | Updated: Feb 24, 2024, 2:45 pm

Isaiah Oliver #26 of the San Francisco 49ers reacts during the fourth quarter in the game against t...

Mitchell Leff/Getty Images

The 49ers are wasting no time preparing for free agency next month, waiving Isaiah Oliver.

The San Francisco 49ers made the announcement to release the former starting nickel-back Friday. SF’s first cut of the 2024 offseason and likely not their last as they prepare for next month.

Isaiah Oliver, 26, joined the 49ers as a free agent last offseason, signing a two-year, $6.75 million deal. Brought in to replace long-time veteran safety Jimmie Ward, Oliver didn’t live up to expectations. Eventually, he was demoted to the bench, only appearing on special-teams during the 2024 postseason.

He finished his lone campaign in San Francisco with 67 combined tackles, two pass breakups and one interception and one fumble recovery in 20 games. His stats don’t tell the whole story however, ending the year with a 67.6 Pro Football Focus grade.

The move is more of a cost-cutting transaction, saving the 49ers $2.4 million in cap space. SF is projected to up against the $255 million threshold at the start of free agency, meaning they’ll need to make more moves in the coming weeks and months.

One of those will encompass finding a replacement third cornerback, something the 49ers have been trying to find for years. 

Key offseason dates for the San Francisco 49ers

  • Tuesday, Feb. 20th – Teams can begin franchising players until Tuesday, March 5th
  • Tuesday, Feb. 27 – NFL Combine begins
  • Thursday, March 13 – The 2024 free agency signing period begins at 1 p.m. PST

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