Report: No trade imminent after Kaepernick refuses pay cut, 49ers won't retain salary

Trade talks between the Denver Broncos and San Francisco 49ers involving quarterback Colin Kaepernick have slowed to a crawl after Kaepernick refused a pay cut, according to multiple reports.

Bleacher Report's Jason Cole reported Monday that Kaepernick refused the Broncos' request to cut his salary and the 49ers are unwilling to pay any of it themselves.

The Broncos reportedly want Kaepernick's $11.9-million guaranteed salary lowered to $7 million, either via pay cut or the 49ers paying the difference.

NFL Network's Ian Rapoport confirmed Kaepernick balked at cutting his pay and notes that all talks between the Broncos and 49ers are now focused on how much of Kaepernick's salary the 49ers are willing to pay.

For now, at least, it sounds like the answer to that question is none of it. And thus, a trade appears unlikely in the immediate future.