Colin Kaepernick

San Francisco 49ers quarterback Colin Kaepernick could become a Brown if they can agree to a contract restructuring.

(Rick Scuteri/AP)

CLEVELAND, Ohio --- The Browns are willing to give up their third-round pick for 49ers quarterback Colin Kaepernick, but the trade is contingent on restructuring Kaepernick's $19 million a year contract, sources told cleveland.com.

The 49ers want a second-round pick, but might be willing to take the Browns' third considering it's the second pick in that round, No. 65 overall. Kaepernick wants out, and the Broncos, who were the front-runners in the sweepstakes on Thursday, are also reluctant to part with a high pick. Besides, they traded for Mark Sanchez on Friday and are prepared to start him in 2016. They're no longer as desperate as they seemed.

The Broncos' second-round pick is No. 63 overall, just two notches ahead of the Browns' third-rounder. Their third-rounder is No. 94 overall, and that might not cut it for the 49ers.

The Broncos sent a conditional 2017 pick to the Eagles on Friday for Sanchez, and like him enough to give it go next year. But general manager John Elway tweeted Friday that they're still looking, saying Sanchez "brings veteran leadership & will compete. This is the 1st step in our process."

The Broncos have also been linked to free agents Ryan Fitzpatrick and Robert Griffin III and Bucs backup Mike Glennon.

In regards to Kaepernick's contract, the Browns will likely want to cut his current $19 million a year average by more than half. He signed a six-year extension in 2014 worth $114 million, including $61 million guaranteed. If he's on a team's roster on April 1, his $11.9 million base salary for 2016 is guaranteed.

His base in the final four years are as follows: $14.5 million in 2017, $15 million in 2018, $16.8 million in 2019 and $19 million in 2020.

With the Browns likely to seek their quarterback of the future in this draft, they might not want to pay Kaepernick more than $7 million to $8 million -- the "bridge quarterback'' range. The deal could include incentives for games started.

The Browns, who waived Johnny Manziel on Friday, have been working on the restructuring with Kaepernick's agents, as reported by NFL Network's Mike Silver. But it won't be easy unless he's viewed as their long-term solution.

They've had their sights set on either North Dakota State's Carson Wentz or Cal's Jared Goff for a while, and this move might not preclude them from drafting one of them at No. 2.

If the Browns do trade for Kaepernick and draft a quarterback high, 2015 starter Josh McCown could end up on the trading block and would likely attract some attention. McCown, who finished the season on injured reserve with a broken collarbone, ranked 14th in the NFL with a 93.3 rating and eighth with a 102.1 rating in the fourth quarter.

The 49ers have made it clear that they're willing to keep Kaepernick if they don't like the offers and let him compete for the starting job with Blaine Gabbert in Chip Kelly's offense. However, with Kaeperick asking to be traded, it might be difficult to keep him around.

ESPN's Adam Schefter reported Friday that Kaepernick respects Hue Jackson and would like to play for the Browns. The feeling is certainly mutual. Jackson wanted to draft Kaepernick in 2011 when he was coming out of Nevada, but the 49ers traded up with Denver and beat the Raiders to the punch.

Two years later, he told Sports Illustrated, "I think about it all the time, believe me. No question in my mind we wanted it to happen and no question I thought it could happen. We wanted the kid in the worst way."

If the Browns come up with a deal Kaepernick likes, Jackson may get his man.