Good morning and welcome to the latest in the Colin Kaepernick to Denver Broncos trade saga. An updated report by Adam Schefter states that the San Francisco 49ers and Broncos are indeed very close on the parameters of a trade and that the only item holding it up is $4.9 million of the quarterback's salary.

"Denver and Kaepernick would like San Francisco to pay the remaining $4.9 million; the 49ers have been unwilling," says Schefter in the updated ESPN report.


The Broncos are willing to pay $7 million of his base salary and the 49ers, understandably, are unwilling to pick up the rest.

As for the compensation, which Mike Florio of Pro Football Talk disputed was set, Schefter had the following update.

A high-level source says "it would take two seconds" for the teams to finalize the proposed deal. The compensation in the trade is a nonissue, per sources familiar with deal. It will be a midround pick and sources from both teams said that will not be any holdup and they can "finalize it with one phone call."

This update confirms a report yesterday by the Sacramento Bee that the 49ers and Broncos were "close" on the parameters of compensation.

Talks heated back upon Thursday when Broncos general manager John Elway met with Kaepernick, reportedly for at least the second time, at his home in the Denver area. The meeting was likely arranged as a feeling-out process and to discuss contractual issues.