Report: Kaepernick to opt out of contract, become free agent

Colin Kaepernick's new representatives, Jeff Nalley and Sean Kiernan, informed the San Francisco 49ers and the NFL's other 31 teams Tuesday that the quarterback will opt out of his contract and become an unrestricted free agent, NFL Network's Ian Rapoport reports.

The 29-year-old reportedly cannot officially opt out of his current deal until March 2, a source told Cam Inman of The Mercury News.

It was a widely expected move, but the quarterback is reportedly still open to re-signing with San Francisco.

The likelihood of that reunion could hinge on Kaepernick's market once he becomes available, with an uneven quarterback draft class and a shallow free-agent group possibly driving up his value.

Kaepernick was inconsistent in 2016 after regaining the starting job, but considering the lack of talent he was playing with and the fact he missed a significant portion of the offseason with injuries, his solid play could be viewed favorably by suitors.

He finished the campaign with 2,241 passing yards and 16 touchdowns to four interceptions, as well as adding another 468 yards and two scores on the ground.