Colin Kaepernick trade: Broncos, 49ers reportedly agree to parameters

The 49ers and Denver Broncos reportedly have agreed to the parameters of a trade involving quarterback Colin Kaepernick, but there is one stumbling block.

According to ESPN’s Adam Schefter, the two sides have a deal in principle, but Kaepernick must agree to a restructured contract with Denver first.

When Kaepernick was on the 49ers’ roster through Thursday, his $11.9 million base salary for the 2016 season became guaranteed. He also has a $15.9 million cap number for the upcoming season.

The Broncos have $2 million in cap space available and are hoping to get Kaepernick to agree to more team-friendly terms. If Kaepernick does not agree to take less money, one way things could be worked out would be if the 49ers convert part of the quarterback’s money to a signing bonus and pay him that, while the Broncos take on the remainder of the salary. In return, Denver is expected to send San Francisco a mid-round draft pick.

Kaepernick and Broncos GM John Elway met on Thursday, marking the second time since mid-March that they have met. Between their meetings and this report, it seems like Kaepernick’s eventual trade to Denver is inevitable.

The Broncos likely would have Mark Sanchez penciled in as their starting quarterback for the moment.