What’s the deal here? The point I always make: This is much more about cash spending than it is about fitting under the salary cap. The 49ers have lots of cap space. But as John Lynch pointed out recently, due to the bonuses they’ve paid out to veterans lately, they’ve been at the top of the cash spend for the last few years. And they no longer want to be in that position — especially after last season’s 6-11 descent. This has been hinted at and suggested for weeks, and now it’s a practical reality. The 49ers are done paying for past performance and are freeing their roster of veterans that they believe have been overvalued. They’re seeking undervalued players. They’ll have to nail this year’s draft just as thoroughly as they nailed last year’s class. Really, if not for the 2024 class, they’d be totally adrift, because that group is set up to replace most of Monday’s castoffs.

Last year, immediate production from Dominick Puni, Renardo Green, Malik Mustapha, Ricky Pearsall, and Isaac Guerendo was kind of a bonus, especially after the 49ers suffered so many injuries. Now, they need three or four significant players from this year’s draft. These are not luxury items. They are necessary. If they don’t hit on this year’s draft — including nabbing a star with the 11th pick — the 49ers might just turn into a perpetually mediocre team.

I don’t think York and his financial people want that. I think they believe this is a smart and practical way to winnow down the overpayments and maintain a quality roster while retooling on the fly.I also continue to hear that the conversations with Purdy’s camp have been good throughout this process. Neither side is taking an extreme position and both sides believe an extension is within reach before too long. Nothing is imminent with Purdy — the 49ers are pretty busy right now — but I expect that there will be a deal by May or so. Everybody I talk to expects a deal, and I talk to some people who can be very pessimistic.

So yes, a Purdy deal, whenever it happens, would be a sign that there is a practical plan here. But it hasn’t happened yet. And it’s just part of the explanation for this.