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Did The 49ers Just Overpay Colin Kaepernick By Giving Him A Six-Year, $110 Million Contract Extension?

Submitted by on June 5, 2014 – 10:33 amNo Comment
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Two years ago, Colin Kaepernick was Alex Smith‘s backup for the San Francisco 49ers. He was seen as a guy who could possibly take the reins of the team one day and have some success. But no one thought he was going to be one of the highest-paid quarterbacks in the entire NFL within just two years. And yet, here we are. After Smith went down with an injury back in 2012 and was forced to miss some games, Kaepernick took over the starting quarterback position—and he hasn’t looked back since. He’s guided the Niners to a Super Bowl, which they lost in 2013, and an NFC Championship Game, which they lost earlier this year. And yesterday, San Francisco decided to reward Kaepernick for those feats by giving him a six-year, $110 million contract extension that will pay him a guaranteed $61 million over the course of the next six years. It’s a massive deal for such a young guy.

But is it a little bit too massive? After all, Kaepernick hasn’t even started two full seasons for the 49ers yet. Additionally, he seemed to regress a bit in his second season in the league, which is one of the reasons why some people think the 49ers may have jumped the gun and paid him a little bit too quickly. But at the same time, contracts worth more than $100 million are the going rate for above-average quarterbacks these days. Everyone from Joe Flacco to Tony Romo has signed one. So unless the Niners had any doubts about Kaepernick, they were probably smart to lock him up now. A big year next season would have just cost them more money in the long run.

You know who’s really happy about Kaepernick’s new deal, though? Seattle Seahawks quarterback Russell Wilson. Because he beat Kaepernick’s 49ers in the NFC Championship Game in January and because he’s also up for a new contract soon, he probably just made himself some extra money thanks to Kaepernick’s contract. Other young QBs like Cam Newton are going to cash in as well thanks to the deal. So while it might seem like the Niners overpaid Kaepernick, the truth is that it’ll probably look like they got a steal in a year or two when all of the other guys who are his age start signing long-term contracts.

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