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49ers official: Colin Kaepernick will play under Chip Kelly or take pay cut to play elsewhere

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The San Francisco 49ers opened their offseason workout program on Monday, which meant media was at the facility. It would appear Cam Inman learned the most interesting tidbit of the day. He spoke with a 49ers official, and that person seemed pretty clear in how this situation stands. He said this is basically up to Colin Kaepernick, and either he will play for Chip Kelly, or need to take a pay cut to play elsewhere.

The 49ers, Broncos, and Colin Kaepernick have been going back and forth to try and get a deal done, according to the many reports out there. Kaepernick's contract is reportedly an issue, with the Denver Broncos willing to pay $7 million of the $11.9 million base salary. Reports have indicated they expect either the 49ers to pay the $4.9 million, or Kaepernick to take a pay cut for that amount.

Kaepernick is actually due as much as $14.3 million this season. He gets the base salary, plus $2 million in roster bonuses, and a $400,000 workout bonus. If the 49ers were to eventually release Kaepernick they would be on the hook for the $11.9 million base salary, but none of the other money (assuming it happens before Kaepernick earns the workout bonus). However, Kaepernick's contract contains offset language, which means if he signs elsewhere, that new 2016 salary would go to offset what the 49ers have to pay. So, if he was released and then signed with the Broncos for $7 million, the 49ers would thus owe Kaepernick that $4.9 million.

While this is a fairly reasonable thing to say, given the history involved, it feels like it is just getting more and more bizarre. I find myself half expecting to see Kaepernick pull a Costanza in the Levi's Stadium parking lot.