The San Francisco 49er and quarterback Colin Kaepernick have agreed and signed to a restructure of his contract. They wiped out the final four years and turned it into a two-year deal with a player option for the second year.
via ESPN:
The monetary value of the deal for this year remains the same, with the second year, should Kaepernick choose to stay, carrying a $16.5 million salary but no money guaranteed.
Sources told ESPN that Kaepernick can void the deal after this season, before the new league year begins in March, allowing him to become an unrestricted free agent if he chooses. The 49ers will not be allowed to use their franchise tag on him.
Given that whether Kaepernick is on the roster is ultimately up to him, his 46-man roster bonuses are converted into guaranteed salary. A playing-time bonus and insurance policy are also part of the restructured deal.
Should Kaepernick elect to opt out after the season, his $16.5 million in base salary for 2017 will come off San Francisco’s books.
