Broncos, Kaepernick 'far apart' on contract talks, deal not imminent
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The Denver Broncos and the San Francisco 49ers remain "far apart" on a deal that would send Colin Kaepernick to the Mile-High City, according to FS1 NFL Insider Mike Garafolo.
An earlier report from ESPN states the two sides "have the parameters of an agreement in principle on a trade for Kaepernick," but the deal hinges on the QB's willingness to agree to a restructured contract.
Garafolo reports that no deal will be made until the contract issue is ironed out.
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ESPN reports that if the two sides can close the gap on the contractual demands, San Francisco would receive a mid-round pick to complete the deal.
Kaepernick has a $11.9 million base salary for the 2016 season and his cap number currently sits at $15.9 million, which the Broncos are looking to reduce.
The Broncos, who recently acquired Mark Sanchez from the Eagles, have said they plan to bring in a second QB to compete for the starting job this year.
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Denver lost both Super Bowl champion quarterback Peyton Manning and his backup, Brock Osweiler, to retirement and free agency, respectively, this offseason.