NFL insider Ian Rapoport, speaking on NFL Network’s NFL Total Access, provided an update on the status of San Francisco 49ers quarterback Jimmy Garoppolo. And the update is that there isn’t an update. While many hope a trade is imminent, Rapoport says that isn’t the case.

The 49ers are reportedly in discussions with teams. However, most believe that San Francisco is seeking more than what potential trade partners are willing to offer.

The Pittsburgh Steelers were the betting favorite to land Garoppolo until it was announced that they agreed to terms on a deal with Mitchell Trubisky.

“The Pittsburgh Steelers were involved in Jimmy Garoppolo trade talks with the San Francisco 49ers,” Rapoport said. “Obviously, that’s not going to happen now.”

With the Carolina Panthers and New Orleans Saints expected to chase Houston Texans quarterback Deshaun Watson, that leaves the Indianapolis Colts as the new favorite to land Garoppolo. However, Rapoport notes that “nothing is imminent” on that front.

NFL teams must be at or below the $208.2 million salary cap by Wednesday, the start of the new league year. The 49ers are currently about $9.6 million over that number, per OverTheCap. Trading Garoppolo would save San Francisco over $25 million.