The 1 p.m. deadline by which the 49ers might have released Kaepernick came and went Thursday, reinforcing what the team has worked to communicate in recent weeks: If you want the quarterback, you’ll have to give us something in return.
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Kaepernick’s $11.9 million salary recently became guaranteed, and that apparently is more than the Broncos would like to spend on him.
There is no way the Seahawks are taking Clady’s cap hits for the next two years as they are in his current deal, so Seattle wouldn’t be involved in a trade. Kaepernick’s guaranteed salary of $11.9 million is the final issue on which neither team nor Kaepernick has yet been willing to compromise. The 49ers would reportedly receive a mid-round draft pick in exchange for Kaepernick.
Kaepernick and Broncos executive vice president of football operations/general manager John Elway have met twice since March 15, according to the San Francisco Chronicle.
Kaepernick played in a dismal nine games for the 49ers in 2015 before being benched in favor of Blaine Gabbert.
Since both teams failed to meet halfway, Kaepernick was assured of his pay check Thursday, but if he agrees to take the pay cut it will assure him of contract bonuses once the season begins. If the Broncos acquire Kaepernick, he is expected to start, although the team may state he will compete with veteran Mark Sanchez for the job.
Kaepernick might be amenable to a pay cut to leave the 49ers, though probably not all the way down to $7 million.
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The Broncos have 10 picks, including a third-round choice (No. 94 overall) that might satisfy the 49ers’ request, or perhaps one for 2017 would. Without that permission, Elway would not be able to speak directly with the quarterback. Kaepernick’s contract also calls for him to make a $400,000 bonus for attending the team’s offseason program. Of course, given the rest of the contract negotiation going on, they could easily figure out a way to negotiate that out of any restructured deal. However, the 49ers would not be on the hook for that sum if they traded the quarterback. The excuse could stand until his potential trade with the Broncos is resolved. The paper also reported it was at least the second such meeting between the Broncos GM and the 49ers quarterback this offseason.
