Even with months-long speculation of a trade percolating nationally, Brandon Aiyuk remains a regular spectator as the San Francisco 49ers move through the preseason.

San Francisco head coach Kyle Shanahan said Aiyuk watched Sunday night's game against the New Orleans Saints, a 16-10 49ers victory televised on FOX, from a suite with the rest of the team's injured players. Though the disgruntled receiver requested a trade and has been a hold-in during training camp, Aiyuk has been observed at practice conditioning on a side field and wearing team-issued gear.

It's an indication that he may not be going anywhere. 

"I trust Brandon knows what he's got to do for this year to get ready to play," Shanahan recently told reporters. "I have a feeling he's finding a way to stay in shape and do those things. But there's a football-shape element that I know he is eager to get back to — and us, too. So hopefully we can get to that soon."

There remains a possibility, of course, that Aiyuk will be traded. According to reports, the Pittsburgh Steelers have a trade offer on the table that satisfies San Francisco's compensation demands and quenches Aiyuk's desire to be one of the top-paid receivers in the NFL. He reportedly nixed a trade offer to the New England Patriots that included a contract that would have paid him $32 million annually. 

San Francisco general manager John Lynch said communication between the team, Aiyuk and his representation remains good. 

"We're trying to figure out solutions," Lynch told KNBR radio in San Francisco. "I'm always hopeful. I'm an optimistic person by nature, and so I'm always hopeful that we'll get there, and get there soon. I can tell you we feel the urgency to have him. The season is approaching." 

The 49ers have reportedly increased their contract offer, potentially bridging the gap between the organization's initial offer and the Steelers' offer. But so far they've been unsuccessful at consummating a deal.

Aiyuk, 26, has been staging a hold-in with the 49ers throughout training camp as he seeks a new contract. The No. 25 overall pick in the 2020 draft is currently set to earn $14.124 million in guaranteed base salary on his fifth-year option, the final year of his rookie deal.

Minnesota Vikings receiver Justin Jefferson is at the top of the receiver market, signing a four-year extension for $140 million with an average annual value of $35 million. A.J. Brown averages $32 million a year, followed by Amon-Ra St. Brown and Tyreek Hill at $30 million and Jaylen Waddle at $28.25 million. 

To protect themselves should they not get something done with Aiyuk, the 49ers signed No. 3 receiver Jauan Jennings to a two-year, $15.4 million deal and drafted receivers Ricky Pearsall and Jacob Cowing in April. However, Pearsall, the team's first-round selection, has been hampered by hamstring and shoulder injuries. 

Aiyuk is Brock Purdy's favorite and most explosive receiver. Purdy posted a 124.0 QB rating last season when targeting Aiyuk, who finished with 75 receptions for 1,342 yards, seven touchdowns and a career-high 17.9 yards per catch. 

According to FOX Sports Research, Aiyuk finished with 28 receptions of 20-plus yards last year, No. 3 in the NFL. San Francisco finished with 75 receptions of 20-plus yards as a team, so Aiyuk accounted for 37.3% of the team's receptions of 20-plus yards. 

According to Next Gen Stats, Aiyuk also had a team-high 18 receptions for 267 yards and two touchdowns on third down last season. So, when Purdy and the 49ers needed a critical play on third down or wanted to create a chunk play down the field to get into scoring position, they dialed up Aiyuk's number. 

The 49ers also need to resolve Aiyuk's contract status so they can turn their attention to another pressing issue: how to appease offensive lineman Trent Williams. Scheduled to make $20 million in non-guaranteed salary in 2024, the All-Pro left tackle is holding out for more guaranteed money on a contract that has three years left.

At 36 years old, Williams remains arguably the best left tackle in the game. He's currently the fifth-highest paid left tackle and likely believes he should still be the highest-paid tackle. 

Receiver Deebo Samuel is scheduled to be the Niners' highest-paid offensive player in 2024 at $21.9 million in total compensation, followed by Williams ($20.9 million), Christian McCaffrey ($16 million), Aiyuk ($14.1 million) and tight end George Kittle ($14 million). The 49ers have 10 players scheduled to make at least $10 million this season.

Despite all that, San Francisco has a projected league-high $48.6 million in cap space for 2024. With three weeks left before the team's season opener, it's time to get Aiyuk's deal done.

Remember that at season's end, the Niners will likely have to pay Purdy a contract that places him among the highest-paid quarterbacks in the league, a deal in the range of $200 million. 

At 24, Purdy is an ascending player in Shanahan's system who was a finalist in the MVP voting last year in his second NFL season. But he needs help to perform at a level that can push San Francisco past Patrick Mahomes and the Kansas City Chiefs in the Super Bowl.

Keeping Aiyuk in the fold would show the rest of the team that San Francisco is all-in on chasing a Super Bowl this season. It would also give the Niners another essential piece in the overall puzzle that the 49ers need to win the Super Bowl. Yes, Aiyuk is an expensive piece, but like the receiver himself said, "If you can't afford a Lamborghini, you can't have one."

With Purdy still playing on his rookie contract and making just $985,000 in his third NFL season, the 49ers need to figure out how they can pay Aiyuk before they have to pay Purdy. 

Injuries are already piling up for San Francisco The 49ers bowed out of a joint practice with New Orleans last week because they had 23 players on the sidelines due to injury. 

Purdy reportedly has been an interception machine in training camp. And he didn't look great in San Francisco's exhibition game against the Saints. Although most starters did not play, Purdy finished 2-of-6 for 11 yards on three drives that included two three-and-outs. 

Keeping a young, talented player like Aiyuk in the fold protects San Francisco's future investment in Purdy. 

"I love B.A. [Aiyuk] and I want nothing but the best for him," Purdy said. "I'm not in the business side of things. So I'm sort of sitting here waiting as well. Hopefully something gets settled soon."

It needs to for Purdy and the 49ers' sake.

Eric D. Williams has reported on the NFL for more than a decade, covering the Los Angeles Rams for Sports Illustrated, the Los Angeles Chargers for ESPN and the Seattle Seahawks for the Tacoma News Tribune. Follow him on Twitter at @eric_d_williams.

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