Colin Kaepernick is expected to be on hand for the start of the 49ers' offseason program Monday morning, a league source indicated on Sunday.
Kaepernick, who has been rehabilitating from three surgeries in Colorado, asked for permission to seek a trade in February and has twice met with his most interested suitor, Broncos general manager John Elway.
The latest meeting occurred Thursday, according to the San Francisco Chronicle. The Broncos, however, only have $1.6 million in salary-cap space and want Kaepernick to slash roughly half of what he is in line to make if he stays with the 49ers.
Kaepernick's $11.9 million base salary became guaranteed Friday. He also stands to earn $400,000 if he takes part in 90 percent of the offseason sessions that start Monday.
How much Kaepernick can participate is unknown. He's still recovering from surgery to his left labrum (shoulder) and left knee, and both recoveries are expected to last at least another month. Kaepernick was in Colorado as recently as Sunday rehabilitating the injuries and flew back to the Bay Area late Sunday night.
Because they have new head coaches, teams like the 49ers are given a head start on the offseason. Players are permitted to work on strength and conditioning but can't have any organized sessions with coaches until April 18.
The 49ers are believed to be open to a trading Kaepernick to Denver, but the first step is for Kaepernick and the Broncos to agree on his contract.
Then the two teams will try to work out compensation. ESPN has reported that a "mid-round" selection in the draft would go to Denver to San Francisco, but it's unknown what that selection would be.
Denver reportedly has valued Kaepernick at a fourth-round pick but doesn't have a selection in the fourth round to trade this year.