Colin Kaepernick might end up under center for the reigning championDenver Broncos in the 2016 NFL Kickoff game, but momentum for a trade out of San Francisco has stalled over the past two weeks.
General manager Trent Baalke stressed at Tuesday's NFL owners meeting that the 49ers have yet to receive a formal trade offer for their erstwhile franchise quarterback.
"I've had discussions with several teams and it's gone no further than that, as the agents have had several discussions (with teams)," Baalke said, via Matt Maiocco of CSN Bay Area. "We're nowhere near getting anything done at this point."
While the Jets showed only cursory interest and the Browns have bowed out of trade talks, the three sides of San Francisco, Denver and Kaepernick's camp appear to be at a Mexican standoff in terms of compensation.
NFL Media columnist Michael Silver has reported the Broncos value Kaepernick at a fourth-round level, while the 49ers likely want a second-round pick in return for a talented quarterback they once viewed as the chosen one destined to lead the team to the promised land.
In granting Kaepernick permission to seek a trade, the 49ers have also allowed him to speak directly with interested teams. Rehabbing this offseason in Vail, Colorado, he's just an hour away from Broncos headquarters.
"What we told them was that they were open to exploring options," Baalke explained. "But our intent was for him to be back and to go to work ... He's under contract and until that changes, our expectations don't change."
Baalke expects Kaepernick to be in attendance when the 49ers begin their offseason program on April 4. If he's on the roster by April 1, as expected, his $12 million salary will be guaranteed for the 2016 season.