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June 4, 2014 at 1:23 PM

Reports: Kaepernick, 49ers, agree on extension through 2020

Lots of reports in the last few minutes that the 49ers and quarterback Colin Kaepernick have agreed on a c0ntract extension tying him to the team through the 2020 season. (The 49ers have since confirmed the reports). UPDATE — Here are some updated details on the contract via the San Jose Mercury News.

NFL.com’s Ian Rapaport has some of the details below:

So it’s basically a $21 million per year deal, with guarantees that could reach $61 million said to rival those of any other contract — Tom Brady and Drew Brees also got roughly $60 million guaranteed in their latest deals.

For the Seahawks, the ramifications are two-fold:

1, Their biggest rival has secured its QB spot for the rest of the decade, a move that might also allow the 49ers to begin sorting out a few other contract issues;

2, More importantly, Russell Wilson is due for an extension of his own a year from now, and undoubtedly will want to at least match, if not top, what Kaepernick has received. As former NFL agent Joel Corry said last week, if the Seahawks win another Super Bowl, Wilson figures to be in line to become the highest-paid player in the NFL. As noted in that same link, though, salary cap experts pretty much agree that the Seahawks are well-positioned to pay Wilson what it will take to keep him with the Seahawks.

According to this chart from OvertheCap.com, the highest-paid QB on a per-year basis remains Aaron Rodgers at $22 million. Kaepernick would be second followed by Matt Ryan at $20.075 million.

As is always the case with NFL contracts, though, it’s best to wait for all the details (here’s Pro Football Talk’s take on the potential folly of believing all of the initial reports) before judging exactly how this may influence anything.

As Jason La Confora noted, the guarantee number is contingent on Kaepernick being on the roster at a certain point of each season:

Here are a few more Tweets with details of and reaction to Kaepernick’s contract:

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