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Report: Colin Kaepernick trade not dead, but not looking good

Maybe Kaepernick isn't coming to Denver after all?

Chris Humphreys-USA TODAY Sports

According to 9NEWS Denver's Mike Klis, the trade that sent offensive tackle Ryan Clady to the New York Jets for a 5th round pick has no impact on the potential Colin Kaepernick trade.

Klis goes on to say that the trade for Kaepernick isn't dead, but currently is looking good.

The deal is not dead, but it’s not looking good. The three parties – the Broncos, 49ers and Kaepernick’s agents – haven’t spoken since last week when Denver was asked if it would budge on its 2016 structure. The Broncos said they would not.

A source close to the situation told Klis that the Broncos are only willing to pay Kaepernick "elite backup quarterback" money because that is exactly how they view him. He would only be brought in to compete for a starting quarterback job with Mark Sanchez, not guaranteed the job like some assumed.

What is holding this trade up is Kaepernick's unwillingness to take this pay cut.

A source close to Kaepernick told 9News the 49ers' quarterback is not taking such a severe pay cut to play for the Broncos, not when he already has the $11.9 million fully guaranteed.

The next deadline for this deal to get completed figures to be April 28th, the first round of the 2016 NFL Draft. The Broncos will have to decide to either trade for Kaepernick, or potentially trade for a quarterback like Memphis quarterback prospect Paxton Lynch.

The other potential options include current Houston Texans quarterback Brian Hoyer, Cleveland Browns quarterback Josh McCown, or free agent quarterback Ryan Fitzpatrick.

I'm sure this story is far from over. Stay tuned to Mile High Report as this saga continues probably for a few more weeks.