The San Francisco 49ers and Colin Kaepernick formally agreed to terms on a restructured contract on Wednesday afternoon. The team did not issue a press release, but they did confirm the ESPN report on a completed deal.
The new deal gives Colin Kaepernick the chance to opt out after this season, and the 49ers are not allowed to use the franchise tag on him. According to Jason Cole, Kaepernick’s void option is seven days before the 2017 league year. I believe that means he can hit the market before free agency officially gets going.
One interesting note that was later reported by ESPN is that the timing of the restructure means the 49ers cannot earn a compensatory pick if Colin Kaepernick leaves as a free agent. This is due to it being altered during the season and Kaepernick can void his deal sooner.
All that means is there won’t be MOAR COMP PICKS for Trent Baalke. That is pretty low on the priority list in terms of what to make of this deal, but it is still worth noting. Now we get to wait and see if one, both, or neither of these guys is with the 49ers a year from now.