The 49ers and quarterback Colin Kaepernick have signed a restructuring of his deal, wiping out the final four years and turning it into a one-year contract with a player option to extend the deal for next year, Adam Schefter and Adam Caplan of ESPN report.
The monetary value of the deal for this year remains the same.
Kaepernick can void the deal after this season, before the new league year begins in March, allowing him to become an unrestricted free agent if he so chooses. The 49ers will not be allowed to use their franchise tag on him.
If Kaepernick doesn’t void deal — to either sign elsewhere or work out a new deal with the Niners — his contract terms for 2017 are the same: $14.5 million salary, but no guaranteed money.
Given that whether or not Kaepernick is on the roster is ultimately up to him, his 46-man roster bonuses are converted into guaranteed salary. A playing-time bonus is also part of the restructured deal.
The two sides have spent months trying to rework the contract — dating back to San Francisco’s trade conversations with Denver last spring — but the talks heated up over the past four weeks and now have been successfully completed.
Asked on Tuesday if he felt any pressure to have a reworked contract before he started Sunday’s game, Kaepernick said, “No, I feel no pressure.” But he did acknowledge, “We have had discussions.”