Ben Margot, File, Associated Press
FILE - In this Nov. 8, 2015, file photo, San Francisco 49ers quarterback Colin Kaepernick stands on the field during an NFL football game against the Atlanta Falcons in Santa Clara, Calif. After months of trade talk and speculation, Kaepernick is still on the 49er's roster and due a hefty payday. The quarterback's $11.9 million 2016 contract became guaranteed at 1 p.m. local time Thursday, March 31, 2016, when the 49ers kept him on the roster.

ENGLEWOOD, Colo. — A person with knowledge of the meeting tells The Associated Press that quarterback Colin Kaepernick met with Broncos GM John Elway at Elway's Denver home last week to talk about restructuring his contract as part of a trade with the San Francisco 49ers.

The person, who spoke on condition of anonymity because of the sensitive nature of the talks, said they met Thursday, the same day Kaepernick's $11.9 million salary for this season became guaranteed.

The San Francisco Chronicle first reported the meeting, the second in two weeks between Elway and Kaepernick, who has been recuperating in Colorado from several surgeries.

The Broncos are hoping to persuade Kaepernick to restructure his contract so he can serve as Peyton Manning's replacement in Denver rather than Blaine Gabbert's backup in San Francisco in 2016.

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