The San Francisco 49ers decided it wasn't worth waiting any longer to lock up their franchise quarterback for the long haul.
The Niners signed Colin Kaepernick to a six-year contract extension through the 2020 season that makes him one of the NFL's highest-paid players.
NFL Network reported the deal is worth up to $126 million with $61 million in guarantees, which would surpass Drew Brees' $60.5 million on the deal he signed in 2012 with the New Orleans Saints for the most guaranteed money in NFL history.
Structure on the deal will be interesting. The 49ers were less than $1.6 million under the salary cap as of Wednesday afternoon, per NFL Players Association records, and Kaepernick was due just $973,766 in base salary plus a $100,000 workout bonus in the last year of his rookie deal.
Kaepernick, 26, has passed for 5,046 yards and 31 touchdowns with 11 interceptions over three NFL seasons. He took over for Alex Smith as the 49ers' starter midway through the 2012 season and has appeared in consecutive NFC Championship Games and Super Bowl XLVII.
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