Although the 49ers elected not to release quarterback Colin Kaepernick before his $11.9 million salary became guaranteed this week, a trade remains a possibility. And the Broncos appear to be the most likely destination, should Kaepernick be traded.
According to the San Francisco Chronicle, Kaepernick met with Broncos General Manager John Elway at Elway’s house in the Denver area on Thursday. According to the report, it’s the second time that Elway and Kaepernick have met this offseason.
Such a meeting would only be legal if the 49ers gave the Broncos permission to talk to Kaepernick. There’s been talk that the 49ers are open to allowing Kaepernick’s agents to discuss a re-worked contract with the Broncos, in order to help facilitate a deal. It’s hard to see why Kaepernick would agree to take less money than he’s already guaranteed for this year, but it’s possible that Kaepernick wants out of San Francisco badly enough to take a pay cut. It’s also possible that the 49ers would agree to pay part of Kaepernick’s salary in order to get a trade done.
At the moment, the Broncos can’t fit Kaepernick under their 2016 salary cap, so a new contract would have to get done before a trade could be consummated.
The Broncos currently have Mark Sanchez atop their quarterback depth chart, but they’ve said they plan to add at least one more quarterback before minicamps begin.