Colin Kaepernick reported to work Monday, but his future employer has yet to be determined.
The quarterback attended the 49ers’ offseason workout program that started Monday to begin earning his $400,000 workout bonus, according to Comcast SportsNet. Kaepernick can collect the bonus with 90 percent participation in the workouts or rehabilitation. The move carries significance because of his discussions with the Broncos.
Then again, it might just be an easy $400,000 and insurance.
The 49ers have insisted they plan to keep Kaepernick, but they also gave his agents permission to seek a trade and allowed him to meet with other teams, an indication they might not be as dead set as they claim on keeping him, even if they’re a bit reluctant to part ways.
Kaepernick met with Broncos general manager John Elway at his home in Denver last Thursday, the day his $11.9 million salary became guaranteed. While the Broncos and 49ers could come to terms on draft-pick compensation in a trade, any such deal would be contingent upon a reduction in Kaepernick’s salary, as Denver has only about $1.6 million in salary-cap space .
Broncos outside linebacker DeMarcus Ware restructured the final year of his contract, moving a portion of his guaranteed money into a signing bonus and taking more incentives to lower his base salary. The Broncos would need Kaepernick to revise his contract similarly or for the 49ers to pay part of his salary in exchange a higher draft pick.
That Kaepernick has met with Elway and discussed the possibilities is yet another sign that he wants out of San Francisco. But his attendance Monday in Santa Clara, Calif., is an indication that he might not be willing to take a pay cut to do so.
Source: Denver Post | Nicki Jhabvala