Kaepernick signs record-breaking extension

The San Francisco 49ers and Colin Kaepernick have agreed to a massive new extension that makes him one of the league's highest paid quarterbacks through 2020.

The San Francisco 49ers have signed quarterback Colin Kaepernick to a six-year extension through 2020 worth up $126 million with an NFL record $61 million guaranteed, according to multiple reports.

"Colin's hard work and dedication have played an integral role in the recent success of the 49ers organization," said 49ers general manager Trent Baalke in a statement. "His work ethic, leadership and on-field production have positively influenced our team, and we look forward to his continued growth in all areas.

[RELATED: KAEPERNICK TALKS RINGS AFTER SIGNING EXTENSION]

"Our organization always looks to reward our players for their contributions and commitment to the team. Colin's agents, Scott Smith and Jason Bernstein, along with Paraag Marathe and Brian Hampton, should be commended for working diligently to reach an agreement."

The 49ers and Kaepernick's representatives got things done quickly after reportedly sitting down in Santa Clara this week for the first time since February's scouting combine in Indianapolis.

San Francisco was afforded an additional $6.6 million in cap space June 1 once Carlos Rogers' 2014 cap figure came off the books after being released this spring allowing the team space to get their quarterback's first year of the new contract under the salary cap.

If the new contract is fully realized, Kaepernick will earn $21 million per season, putting him right at the top of the list of the highest-paid at the position. Aaron Rodgers leads the way with his $22 million annual salary. Of course Kaepernick and the 49ers are 3-0 against Rodgers' Packers since he took over as starter with the most recent win coming on the road in last year's playoffs.

Kaepernick's deal becomes the first domino for the 49ers, who are looking to get new contracts done with a number of players including wideout Michael Crabtree and Pro-Bowl guard Mike Iupati. Tight Vernon Davis and guard Alex Boone have been absent from the team's OTAs while reportedly being unhappy with their current contracts that expire in two seasons.

Kaepernick has reached the Super Bowl and conference title game in his first two seasons as starter since taking over for Alex Smith midway through 2012. He has led the 49ers to three road playoff wins during that time, which is more than Steve Young (0) and Joe Montana (1) combined. Of course both those quarterbacks have won Super Bowls, where Kaepernick is 0-1 after falling to the Ravens 34-31 in Super Bowl 47.

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