The San Francisco 49ers are facing a potential nightmare scenario as the post-NFL draft wave of free agency heats up. Wide receiver Jauan Jennings—arguably the team's most impactful remaining free agent—remains unsigned, and one NFL analyst suggests he could be headed to a bitter rival: the Seattle Seahawks.

Jennings, who broke out in 2024 with a career-best 975 receiving yards while serving as the 49ers' de facto No. 1 receiver in an injury-plagued corps, has drawn interest from the Miami Dolphins and Minnesota Vikings. But according to NFL Media analyst Matt Okada, the Seahawks present a particularly intriguing—and painful—possibility for San Francisco.

"Mike Macdonald’s squad needs a legitimate WR2," Okada wrote. "Perhaps a guy who wins contested catches and is a red-zone threat, who will also willingly contribute in the critical Seahawks run game, would suffice. If Jennings is down to sign for No. 2 money—somewhere around the $22 million per year Spotrac has calculated as his market value—he’d be an excellent fit for former teammate Sam Darnold and Co."

While it's hard to imagine Jennings commanding $22 million annually at this stage, that uncertainty only increases the likelihood he could land with the reigning Super Bowl champions. Given Jennings' competitive, hard-nosed style and his knack for getting under opponents' skin, facing him twice a year would be a major headache for a 49ers defense that already lost twice to Seattle in their final three games last season.

Jennings' free agency has been an eye-opening barometer of his value across the league. Last season, despite playing through multiple significant injuries and a reduced role, he still hauled in 55 catches for 643 yards and a team-high nine receiving touchdowns. Over his career, the 28-year-old has posted 210 catches for 2,581 yards and 22 touchdowns in 75 games—a remarkable trajectory for a seventh-round pick in the 2020 draft who spent his rookie season on the practice squad.

For 49ers fans, the thought of watching Jennings thrive in Seattle—especially after he helped lead San Francisco to a Super Bowl appearance—would be a bitter pill to swallow. But in the unpredictable world of NFL free agency, that nightmare could become reality.