Report: 49ers take out $7.5 million insurance policy on Colin Kaepernick
Colin Kaepernick’s willingness to renegotiate his contract suddenly makes a lot more sense.
The San Francisco 49ers quarterback would reportedly be the beneficiary of a $7.5 million insurance policy taken out by the team, according to ESPN’s Adam Schefter.
The policy would entitle Kaepernick to all the money tax-free if he cannot play next season without impacting the Niners’ cap figure. That figure is comparable to the money he’d have made after taxes with his previous contract.
Kaepernick will also collect a $1 million bonus if he plays at least 50 percent of the team’s snaps for the remainder of the season. That should be easily attainable now that he’s starting again.
It sounds like Kaepernick got a pretty solid deal. He can still opt out after the season, and he’s still being pretty well compensated – and also safe in the event of a serious injury.
