Today the San Francisco 49ers started their offseason program and Colin Kaepernick was in attendance. This would leave you to think he’s staying put- but really he is just playing the waiting game. You see, Kaep has a guaranteed base salary of $11.9 million. He won’t leave for less because he will make that base no matter what.
The Broncos want Kaep but have $1.62 mil in cap space. They will need to do some juggling to get room for him. They want the 49ers to swallow $4.92 million of that guaranteed money to get him on their roster- the 49ers kindly declined.
Either the 49ers, that have both benched and shopped Kaep, keep him or they hope for a better trade. They clearly would want a higher draft pick and to escape payment on some of that $11.9 mil. However, eating the $4.9 million that the Broncos leave on the table for him might be the best the 49ers get. The 49ers aren’t going to start him and paying $11.9 for someone on your bench isn’t ideal. Not to mention that Kaepernick is not interested in staying on their team.
Meanwhile, the Broncos can wait this out as they have have Sanchez throwing balls to their receivers now. The 49ers will eventually have to release Kaep and the Broncos may get away without having to cash in a draft pick to get him.
So actually, wait a minute- it’s Kaepernick that wins here.
He gets his money either way.