As of Monday, the 49ers were about $25 million under the $123 million salary cap for 2009, placing them among the league leaders in the black. The number will fluctuate depending on restructured contracts and salary dumps.

"We will be in the top six in the league in cap space," general manager Scot McCloughan said. "But we're not going to blow it on two or three players. It's a tool we have to use, and we will use it."

Just how much cap space the 49ers have at the start of business Friday depends on one key contract restructuring and several possible salary offloads. The team is working with Alex Smith on a contract that reflects his 2009 status as a quarterback no longer considered the face of the franchise.

At the moment, Smith's original contract from 2005 is still in play, a deal that will pay him $9.625 million in base salary this year for a whopping cap figure of $12,291,666.

"Discussions are ongoing," McCloughan said, referring to Smith and agent Tom Condon. "We did draft him No. 1. He's been through a lot. He's learned from that. I still believe he's going to be a good quarterback in the NFL. We would welcome him back."

Smith has said he is open to a restructured contract. Comments by McCloughan and coach Mike Singletary seem to indicate Smith will be a part of the 49ers this season. As well, new offensive coordinator Jimmy Raye reportedly faxed Smith the essentials of his playbook so he could study it in advance of spring meetings and minicamps.

The 49ers have a few players they would welcome back after their contracts expired in 2008. Though running back DeShaun Foster and wide receiver Bryant Johnson will not return, the team might want kick returner Allen Rossum, cornerback Donald Strickland, fullback Zak Keasey and defensive lineman Ronald Fields back - for the right price.

With a base salary of $4.2 million and a cap figure of $6.592 million for 2009, it's hard to see tackle Jonas Jennings returning, given his long history of assorted injuries.

Cornerback Shawntae Spencer might be seen as a salary liability for 2009 as well, considering he's due a $500,000 roster bonus and carries a cap figure of $3.47 million. Plus, he's coming off an injury and is no longer a starter.

Among other needs, McCloughan and Singletary mentioned the need to find a tackle, whether in the draft or in free agency. Ideally, the 49ers would find a starting right tackle that represents an upgrade from Adam Snyder and Barry Sims.

Coach and GM also mentioned as areas of need safety, running back, wide receiver and pass rusher. The team is not satisfied with Mark Roman at free safety, another back is needed to share the load with Frank Gore, quality receivers will be available in the draft and in free agency and the 49ers, like the other 31 teams in the league, are always looking for a dynamic pass rusher.

Speaking last week to a captive audience of season-ticket holders, Singletary said, "We will be a team that when you come to a game, you will be proud of. You will be excited to see these young men."

Some of whom won't be known until this weekend to go with others chosen in the draft, April 25-26.

E-mail John Crumpacker at jcrumpacker@sfchronicle.com.

This article appeared on page D - 1 of the San Francisco Chronicle