However, a report on Monday morning by NFL.com's Michael Silver states that the Broncos aren't even offering their third round pick. Instead, their offer is their fourth round selection.
The odd thing is that the Broncos don't have a fourth round pick that they can trade. They have a compensatory selection which cannot be traded. Of course, that rule will change next year.
So what exactly are the Broncos offering? Is it their third round selection, which is number 94 overall? Whatever it is, the 49ers want a pick that can beat Cleveland's offer. San Francisco has already stated that if they do not get an offer that they like, they are perfectly fine holding on to Kaepernick. Of course, that may create an awkward situation because the quarterback doesn't want to be in San Francisco anymore.
Kaepernick's representatives already figure that they can work out the quarterback's salary to play for Denver. There is no holdup there. However, that is the holdup for Cleveland, not the compensation offer.
While Michael Silver's report makes things a bit more confusing, we are still left with three teams and a quarterback that are involved in a stare down, with none willing to flinch.
Update:
Michael Silver has clarified his initial confusing statement, saying that the Broncos believe Kaepernick is worth a fourth round selection. Not that they have offered that, which they cannot. It is still likely that their third round pick is in play and that Denver believes that it is more than fair given what they feel Kaepernick is valued at.
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