Broncos GM John Elway meets with Colin Kaepernick
The Denver Broncos' interest in Colin Kaepernick can now be qualified as serious.
An NFL source confirmed to 9NEWS that Broncos general manager John Elway met Thursday in Denver with Kaepernick, who is currently the San Francisco 49ers’ quarterback. It was the second meeting in two weeks between Elway and Kaepernick.
The San Francisco Chronicle first reported of the meetings between Elway and Kaepernick, who has been rehabilitating three surgically repaired injuries at the Steadman Clinic in Vail, Colorado.
The Broncos are interested in Kaepernick because the Super Bowl champions need a starting quarterback following the departures of Peyton Manning to retirement and Brock Osweiler to free agency and the Houston Texans.
The Broncos did acquire veteran quarterback Mark Sanchez in a trade but he hasn’t opened a season as a starter since 2012 with the New York Jets.
Kaepernick’s interest in the Broncos originates from the fact he wants out of San Francisco. The 49ers have granted Kaepernick’s agents, Jason Bernstein and Scott Smith, to seek a trade for their client. Such permission allowed for Elway and Kaepernick to meet.
Does that mean the Broncos are on the verge of acquiring Kaepernick? Contract terms remain a major hurdle. Kaepernick’s $11.9 million salary for the 2016 season became fully guaranteed on Friday. The Broncos, who have less than $2 million in available cap space, want to take on a lesser amount.
That means either the 49ers have to pick up a portion of Kaepernick’s salary or Kaepernick has to agree to a pay cut. Or both. It’s possible the 49ers could do a “sign and trade” which would mean converting the $11.9 million salary to, say, a $2 million signing bonus and $9.9 million salary. In this scenario, the 49ers would eat $2 million in exchange for the quarterback and one or two of the Broncos’ draft picks.
It’s possible Elway met with Kaepernick in hopes of selling the quarterback on taking less to play for the defending Super Bowl champions in 2016 in return for creating greater long-term value with a successful season.
The 49ers could be motivated to trade Kaepernick before their team begins its offseason conditioning program Monday. Kaepernick’s contract also calls for him to make a $400,000 bonus for attending the team’s offseason program. His potential presence Monday would undoubtedly cause an awkward tension for all 49ers involved. The Broncos don’t begin their offseason program until April 18.