The San Francisco 49ers are reportedly close to releasing longtime defensive tackle Arik Armstead and making him a free agent.

This decision comes after the team and Armstead failed to come to terms on a restructured contract that would see him take a significant pay cut from his scheduled $17.4 million salary in 2024, according to league insider Matt Maiocco of NBC Sports.

If the 49ers decide to make Armstead a post-June 1 cut, they could free up $18.5 million in cap space, but this money would only become available once he is officially off the roster.

On the other hand, opting for a pre-June 1 cut would open up $2.5 million, providing the team with immediate access to those funds.

Arik Armstead was the longest-tenured player on the 49ers roster

The longest-tenured player on the team, the veteran pass rusher has been a key member of the 49ers defensive lineup since 2015.

Armstead was drafted by the franchise in the first round of the 2015 NFL Draft, selected with the 17th overall pick out of the University of Oregon.

The 30-year-old signed a five-year, $85 million deal with the 49ers in 2020, with the final year supposed to commence in 2024.

Unfortunately, foot and knee injuries have limited his participation in 21 games over the last two seasons, including 12 games in the 2023 campaign, during which he recorded 15 solo tackles, 12 assists, and 5.0 sacks.