Manning, the Colts’ franchise quarterback since 1998, has agreed to a five-year, $90 million contract, ESPN’s Chris Mortensen is reporting.
Colts owner Jim Irsay has said that Manning deserves to be the highest-paid player in the league, but Manning said he was willing to take less than the Colts were offering if it meant they’d have more salary cap space for some of his teammates. Mortensen reports that Irsay was willing to go up to $100 million over five years.
We don’t yet know how the numbers break down — how much is guaranteed, how big a signing bonus Manning received — but Manning will average $18 million a year for five more years. Manning agreed to a deal with the same average value as Tom Brady got on his four-year, $72 million contract with the Patriots.
And Manning will be the Colts’ quarterback through the 2015 season, when he’ll be 39 years old.Colts QB Peyton Manning has agreed to a five-year deal worth $90 million to stay in Indianapolis, according to an ESPN report.
After publicly resisting a deal that would make him the NFL's highest-paid quarterback, Manning's new contract is reportedly worth $18 million a year -- equal to Patriots quarterback Tom Brady.
ESPN reports that Manning wanted less money so the Colts would have the cap space to sign free agents and strengthen the depth chart.
Manning, 35, is recovering from a May 23 neck surgery to remove a bulging disk that bothered him last season. The rehab has reportedly taken longer than expected.
Colts coach Jim Caldwell could not say Friday when the four-time MVP would return in full.
"Like a professional, like he always does, in a first-class manner, work harder than any man on the planet to get himself ready faster than anybody, (but) he's not ready right now," Caldwell said. "Nobody works any harder, nobody is more diligent, more dedicated and he certainly has great faith in our staff that works with him here and at some point in time he'll be ready to go and when that is, we'll turn him loose."
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