Jacobs is under contract to San Francisco and they hold all the cards. He is currently suspended without pay.
The reasons behind the suspension have been stated by the Niners. It is suspected that Jacobs' frustration regarding how the team was using (or not using) him, which he had continuously and publicly documented via social media, led the team to suspend him for conduct reasons.
Jacobs has filed a grievance for cause and the verdict can go one of three ways:
- He remains suspended without pay for the remainder of the regular season.
- He remains suspended, but resumes getting paid.
- He gets released.
Don't count on the Niners doing that. They don't wan't him to be picked up by a contender (especially the Giants, where he'll fit right back in) for several reasons:
1. Business. He knows their playbook and will spill it to his new team. That intel will be used against them in any upcoming game. If Jacobs lands with Green Bay, the Giants or Falcons, he immediately bolsters their backfields and makes any playoff matchup vs them more difficult.
2. Personal. They want to punish and humiliate him for his behavior as a member of the Niners. They also don't want to see him have success somewhere else after getting just seven yards on five carries out him this season.
It is actually cheaper for the Niners to keep him. He is making only $950k this year and suspending him either with or without pay outweighs any scenario in which they release him.