Colin Kaepernick’s extension signed with the San Francisco 49ers is worth even more than originally reported.
Ian Rapoport of NFL.com is reporting that the 6-year extension signed by Kaepernick Wednesday is worth up to $126 million over its lifetime.
Nearly half of the $126 million contract, $61 million, is guaranteed. That makes Kaepernick the recipient of the largest guaranteed contract in NFL history. However, only $13.073 million is fully guaranteed, according to Mike Florio of ProFootballTalk.com.
The $126 million deal makes Kap the second-highest paid quarterback, in terms of total money, behind Baltimore Ravens quarterback Joe Flacco.
“I’m always striving to be in that group, that elite group in the NFL, not in terms of pay but as a player,” Kaepernick said in a press conference Wednesday. “And whatever comes along with that comes along with that.”
Despite being one of the highest paid quarterbacks in the NFL, Kap isn’t ready to quit working. He said he needs to work on his progressions, getting through reads, and making the right decisions in the right situations.
The way the contract is structured, Kap will have to prove he is a top quarterback to be paid like one. While the total contract number is $126 million, the payout will decrease $2 million per year until Kaepernick plays 80 percent of the snaps in a season and either makes a Super Bowl appearance, or is a 1st or 2nd team All-Pro in the same season. The de-escalator stops after his first season meeting these requirements.
“This just gives me all the more reason to go out and try to prove that I can live up to the expectations, that I can try to help this organization to win as many Super Bowls as possible,” said Kaepernick.
When asked what he plans on doing with the money, Kap is making sure to put family first.
“I think the first thing is make sure everyone in my family is set, and then go from there,” Kaepernick said. “… The three most expensive things I own are my TV, my bed, and my couch, and I’m going to keep it that way for a while.”
Now that the extension has been inked, Kap is excited to return to football.
“We can get back to football and focus on trying to win a Super Bowl.”
David Fucillo at NinersNation.com has a complete breakdown of the contract, year-by-year, including bonuses here.
