49ers P Andy Lee's six-year extension is worth $20.5 million, with $7.1 million paid out in the first two years.

Tacked onto the $1.1 million left on Lee's old contract, it's actually worth just $3.09 million annually -- significantly less than originally expected and nearly a full $1 million per year lower than Shane Lechler's Raiders deal. Lee essentially took a hometown discount. He's now signed through his age-36 season.

49ers agreed to a contract extension with P Andy Lee.

Beat writer Matt Maiocco expects the deal to be in the range of $4 million annually, which is unheard for any punter not named Shane Lechler. To Lee's credit, he's certainly in Lechler's class -- and a major reason why the 49ers boasted one of the strongest special teams units of the past decade in 2011. Pro Football Focus rated Lee as the second-best punter in the NFL last season, just ahead of Lechler.