The first big reported trade of the offseason included the Niners shipping Alex Smith to the Chiefs for a second-rounder this year and a conditional 2014 pick.
San Francisco's rivals have pulled off the next major deal, as the Seahawks have reportedly acquired WR Percy Harvin from the Vikings in exchange for three draft choices, including Seattle's 2013 first- and seventh-rounders, and a mid-round pick in 2014.
The trade is pending a physical, and like the Smith deal, cannot be finalized until 4pm ET tomorrow, when the league calendar flips.
Harvin has made clear that he's unhappy with his rookie contract, which will pay him $2.9M in its final year.
We'll assume the Seahawks have a reworked deal in place, given the hefty price they appear to have paid Minnesota. Trading a first-rounder and then some for a one-year rental just isn't done in today's NFL.
Along those lines, Ian Rapoport is reporting on NFLN that Harvin will get a new contract from Seattle will pay him around $10M per season.
Prior to this deal, Minnesota had nine picks in April's draft, while the Seahawks had ten but are expected to receive two compensatory picks. The Vikings aren't expected to be given any compensatory choices.
Seattle is also reportedly looking to trade KR Leon Washington.
San Francisco has responded by making a WR upgrade of their own, and it cost them a whole lot less to do so. The Niners acquired Anquan Boldin - of whom Baltimore had reportedly demanded a $2M pay cut - in exchange for a sixth-round pick in the upcoming draft.
Boldin is set to make $6M this season, so the Ravens will reap that full amount as cash savings, but are left with $1.53M in dead money.
Baltimore moved to retain one of its other key offensive players, by applying a second-round restricted tender to TE Dennis Pitta.
For San Francisco, they're dealing from an area of extreme strength, as the Alex Smith trade had been expected to leave them with 12 draft choices. They're also expected to receive three compensatory picks in April's draft, so even after the Boldin deal, they'll have 14 selections pending any other moves.
In other news, the Niners re-signed NT Ian Williams on a two-year deal.
The Giants have placed a first-round tender on WR Victor Cruz.
In a bit of a surprise, CB Chris Gamble has decided to retire following his release from the Panthers.
The Cardinals will meet with QB Kevin Kolb regarding his contract, which obviously doesn't portend well for his 2013 salary. They have also re-upped with safety Rashad Johnson for three years, and cut two running backs - Beanie Wells and Fozzy Whittaker; LaRod Stephens-Howling may be following them out the door, via free agency. Wells had been a first-round selection by Arizona in the 2009 Draft, but totaled an underwhelming 2,764 yards from scrimmage and 24 touchdowns in four seasons.
Dallas cut LB Dan Connor.
Pittsburgh retained T Ramon Foster with a new three-year deal.
As expected, the LOLJets have signed QB David Garrard.
According to Mark Kiszla, the list of free agent corners being considered by the Broncos includes Arizona's Greg Toler, Miami's Sean Smith, San Diego's Antoine Cason, Detroit's Chris Houston, and Philly's Dominique Rodgers-Cromartie.
Chicago and St. Louis are reportedly interested in Dolphins T Jake Long.
Titans TE Jared Cook has been connected with a slew of teams, most recently Miami and Cleveland.
Cleveland is reportedly interested in Panthers CB Captain Munnerlyn.
Updated 10:39pm ET