San Francisco 49ers quarterback Colin Kaepernick has been the source of trade rumors for some time now. After peaking with a Super Bowl appearance in 2013, Kaepernick has regressed over the past two seasons and his relationship with the organization has deteriorated as well. The 28-year-old formally requested a trade back in Feb. and the looming Apr. 1 deadline when his 2016 salary of $11.9 million becomes fully guaranteed had many around the league expecting San Francisco to grant him his wish.

However, that no longer appears to be the case.

Although the QB-needy Denver Broncos are a logical landing spot, the 49ers may roll the dice and take their chances with Kaepernick in 2016, according to a recent report. San Fran will not be dealing the QB unless they are "blown away" with a trade offer. Considering that Kaepernick was benched for Blaine Gabbert last season and is still recovering from offseason thumb and knee surgeries, that seems unlikely.

It's also unlikely that the 49ers release Kaepernick before this Friday's deadline. As he is still not 100 percent healthy, he and the NFL Players Association would have an argument that the Niners are still responsible for his 2016 base salary.

But it's not as if the 49ers are begrudgingly keeping Kaepernick. Both general manager Trent Baalke and new head coach Chip Kelly have stated multiple times that they want him in camp competing with Gabbert for the starting job. Baalke was present when Kaepernick helped lead the 49ers to that Super Bowl and Kelly likes the quarterback's athleticism and mobility for his offense. It's understandable why neither of them is in a rush to get rid of him.

Should this latest report hold up, the 49ers would pay Kaepernick his aforementioned $11.9 million base salary, his $1.125 million roster bonus and his $400,000 offseason workout bonus. Typically, teams don't do that unless they want to keep that guy around. However, it is possible that trade talks heat up once again when the upcoming draft (Apr. 28-30) rolls around.

Until then, it looks like John Elway and the Broncos will have to continue shopping around for quarterbacks.

Follow Brandon Katz on Twitter at @Great_Katzby