If the 49ers and quarterback Jimmy Garoppolo are unable to reach a multi-year contract extension by March 6, the 49ers have no other choice but to designate him as their franchise player.

The estimated one-year salary for the franchise tag would be $23.307 million, according to former NFL agent Joel Corry, whose work now appears at CBS Sports. (That is assuming a 2018 league-wide salary cap of $178.1 million per team.)

There is a lot to consider for both sides as they look to enter into a long-term contract. Corry said if a deal is struck, he would expect it to be in the neighborhood of Derek Carr’s five-year, $125 million deal he signed with the Raiders last offseason.

“And then there’s the other dynamic, which I would not undersell or I think may not be appreciated as much as it should be,” Corry said on the 49ers Insider Podcast. “(Garoppolo’s agent) Don Yee has a reputation – no fault of his own – of doing team-friendly deals.”

Yee also represents New England quarterback Tom Brady, whose average of $20.5 million annual pay ranks 15th among NFL quarterbacks. Brady is underpaid by design, Corry said, because one of the great quarterbacks of all-time realizes it helps the Patriots to maintain a strong supporting cast.

“That’s because Tom Brady dictates, ‘I want to do something good for the team, take less money so we can improve the roster to win Super Bowls.’ That’s not Don Yee who wants to do that,” Corry said.

“The agent works for the player, so he’s executing Tom Brady’s wishes. But he gets that held against him in recruiting. So this is his opportunity to erase that perception if Garoppolo allows him to do his job and gives him latitude to strike the deal that he feels is appropriate.”

For more on the potential negotiating strategies of both sides, listen here to the 49ers Insider Podcast.