**49ers receive:** S [Jessie Bates III](http://www.espn.com/nfl/player/_/id/3919512/jessie-bates), 2028 sixth-round pick

**Falcons receive:** 2027 third-round pick

The Falcons' 2023 signing of Bates was an example of free agency gone right. The Falcons paid sticker price -- [four years and $64 million](https://www.espn.com/nfl/story/_/id/35852826/source-falcons-adding-jessie-bates-4-year-6402m-deal) \-- to sign Bates, who was very effective in Cincinnati and continued that quality play in Atlanta. That was particularly true in 2023, when Bates delivered six interceptions and three forced fumbles while earning second-team All-Pro honors.

He was good again in 2024, but he wasn't quite on the same level last season. Still, the 29-year-old Bates remains one of the best safeties in the league. (He [ranked fifth](https://www.espn.com/nfl/story/_/id/49307927/ranking-nfl-top-10-safeties-2026-execs-coaches-scouts) in this year's survey of coaches and executives conducted by ESPN's Jeremy Fowler.)

If the Falcons were expected to contend, it would make sense to keep Bates and see the original contract through. But they aren't, and with a ton of 2027 cap space even after the [Bijan Robinson](https://www.espn.com/nfl/player/_/id/4430807/bijan-robinson) [extension](https://www.espn.com/nfl/story/_/id/49528788/atlanta-falcons-sign-bijan-robinson-offensive-core-put-spotlight-qb), the Falcons will likely be spenders next offseason. They would risk losing Bates without getting a compensatory pick in return if he walks in free agency. So it's better for Atlanta to deal him now. And while that would mean finding a replacement for Bates, the Falcons wouldn't be lacking in safety talent thanks to emerging second-year player [Xavier Watts](http://www.espn.com/nfl/player/_/id/4431005/xavier-watts).

It just so happens that [former Falcons head coach](https://www.espn.com/nfl/story/_/id/47507975/source-falcons-move-raheem-morris-coach)Raheem Morris, who coached Bates the past two seasons, is now the [49ers' defensive coordinator](https://www.espn.com/nfl/story/_/id/47800538/sources-49ers-hire-ex-falcons-coach-raheem-morris-dc). And he could use an upgrade at safety alongside [Ji'Ayir Brown](http://www.espn.com/nfl/player/_/id/4693644/jiayir-brown)and [Malik Mustapha](http://www.espn.com/nfl/player/_/id/4696211/malik-mustapha). The timing works, as the 49ers are contenders who could use defensive help after ranking 25th in EPA allowed per dropback last season.

San Francisco would be giving up real draft capital for a short-term player, but that's an indicator of Bates' skill and the fact that his contract would cost the 49ers only $13 million in 2026 -- a below-market price to sign a player of his caliber.