SAN FRANCISCO (CBS SF) — There is a report the Broncos and 49ers have settled on the terms of an agreement to trade quarter Colin Kaepernick, but there is still the issue of a pay cut to iron out.
Adam Schefter of ESPN tweeted “the parameters a Colin Kaepernick-to-Denver trade are agreed upon,” but added the trade hinges on whether the quarterback agrees to a restructured contract and a pay cut.READ MORE: Twitter Sues Texas AG Over Alleged Retaliation For Banning Trump's Account After Capitol Riot
SF-DEN have parameters of trade agreement on Colin Kaepernick, but still need restructured deal to complete… https://t.co/93waYznrUaREAD MORE: COVID Reopening: San Francisco Unified Reveals More Details Of April Reopening
— Adam Schefter (@AdamSchefter) April 2, 2016
Under his current deal, Kaepernick’s base salary is $11.9 million with a $15.9 million salary cap hit for 2016. According to ESPN, the Broncos want a “much friendlier cap number and contract.”MORE NEWS: UPDATE: Judge Accepts Ghost Ship Fire Plea Deal; Derick Almena To Serve Remainder of Sentence At Home
Meanwhile, an anonymous source told the Associated Press that Broncos General Manager John Elway hosted Kaepernick at his home in Denver last week to talk about restructuring his contract.