Jason La Canfora confirms the report that the Broncos would prefer to pay to QB Colin Kaepernick $14 million over the course of two years, as opposed to $12 million for the 2016 and then move forward with essentially one-year options over the following three years.
According to La Canfora, the Broncos also want to retain Kaepernick the final two years of his contract on top of getting him to take a pay cut.
La Canfora believes the Broncos are ultimately asking too much right now, their offer is clearly a “deal-breaker” for Kaepernick. Even so, La Canfora mentions that trade talks could be rekindled down the road if Denver is willing to offer him a more reasonable contract restructure.
If Kaepernick were to agree to this offer, he would be accepting a salary reduction of $12.4 million, and as much as $16.2 million over the next two years.
Interestingly enough, sources have told Bach that Kaepernick would at least consider a deal that would pay him less than his current salary.
However, he ultimately elected to pass on taking their offer and reported to the start of 49ers’ workouts on Monday.
There was a report that trade between the Broncos and 49ers was off, but it seems like the two sides are just waiting one another out.
Over the weekend, ESPN’s Adam Schefter reported that the 49ers and Broncos had reached an agreement on the parameters of trade agreement involving Kaepernick, but they wanted him to take a $4.9 million pay cut to complete a trade.
According to Schefter, the Broncos and 49ers’ agreement included a mid-round pick.
Kaepernick, 28, is in the third year of his seven-year, $126.97 million contract that included $61 million guaranteed and stands to make a base salary of $13.9 million for the 2016 season.
While those numbers are impressive on their own, the contract is essentially a pay-as-you-go agreement that includes ways for San Francisco to walk away with limited repercussions, as long as Kaepernick is healthy.
According to OverTheCap.com, trading Kaepernick would free up $8,493,493 in available cap space and create $7,397,260 in dead money.
In 2015, Kaepernick threw for 1,615 yards while completing 59.3 percent of his passes to go along with six touchdowns and five interceptions over the course of eight games. He also added 228 yards rushing and a touchdown.
We’ll have more regarding a Kaepernick trade as the news is available.