Former San Francisco 49ers quarterback Colin Kaepernick and Carolina Panthers safety Eric Reid have reached a settlement in their collusion grievance against the NFL.

Kaepernick's lawyer, Mark Geragos, and the NFL released a joint statement Friday afternoon which reads:

"For the past several months, counsel for Mr. Kaepernick and Mr. Reid have engaged in an ongoing dialogue with representatives of the NFL. As a result of those discussions, the parties have decided to resolve the pending grievances. The resolution of this matter is subject to a confidentiality agreement so there will be no further comment by any party."

As noted in the joint statement, the terms of the settlement will not be revealed due to a confidentiality agreement, but The Athletic's Darren Rovell believes Kaepernick likely received more money than he ever would have made in his career if it never happened.

Kaepernick, 31, opted out of his contract with the 49ers in March 2017, and has hardly received any interest from teams since. Meanwhile, Reid signed with the Panthers during the 2018 season and he inked a $22 million, 3-year extension with the team earlier this week.

The NFLPA also released a statement regarding today's announcement, which reads in part: "We are glad that Eric has earned a job and a new contract, and we continue to hope that Colin gets his opportunity as well."