Peyton Manning restructures contract to save Colts cap room

Mike · 02-21-2007, 01:17 PM

INDIANAPOLIS -- Peyton Manning has agreed to restructure his contract with the Indianapolis Colts to save the team nearly $8 million in salary cap space.

The Super Bowl MVP was to receive a $10 million roster bonus during the offseason but by converting the money into a regular signing bonus, the Colts can prorate that amount over the remaining four years of his deal. That saves Indianapolis space under the cap, which is $109 million.

The restructuring was disclosed to The Associated Press on Wednesday by a person familiar with the negotiations who spoke on condition of anonymity because the deal had not yet been signed.

Colts spokesman Craig Kelley said the team had no comment.

Manning signed a $98 million contract in March 2004, the season after he shared the league's MVP award with Steve McNair.

He followed that with a record-setting 2004 season in which he threw 49 touchdown passes and earned his second straight league MVP award.

In 2005, Manning guided the Colts to a 13-0 record and the AFC's No. 1 seed before losing in the divisional round of the playoffs to eventual Super Bowl champion Pittsburgh.

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Coachnorm · 02-21-2007, 04:11 PM

Manning, as usual restuctures his contract to help the Colts out. Nothing like getting more money up front from all those extra jersey sales.

The Ram · 02-22-2007, 05:27 AM

Eleventy-billion dollars now or later is still eleventy-billion dollars.

WesDawg · 02-24-2007, 10:37 AM

Ever wonder if there are players in the league that get pissed off when good guys like Manning do things like this? Or high-profile guys that avoid free agency by taking the "hometown discount"?


02-21-2007, 01:17 PM	#1
Mike who me? Admin Join Date: Mar 2004 Location: L.A. (Lower Arkansas) Posts: 30,006 vCash: 14556924 Donate Blog Entries: 18	Peyton Manning restructures contract to save Colts cap room INDIANAPOLIS -- Peyton Manning has agreed to restructure his contract with the Indianapolis Colts to save the team nearly $8 million in salary cap space. The Super Bowl MVP was to receive a $10 million roster bonus during the offseason but by converting the money into a regular signing bonus, the Colts can prorate that amount over the remaining four years of his deal. That saves Indianapolis space under the cap, which is $109 million. The restructuring was disclosed to The Associated Press on Wednesday by a person familiar with the negotiations who spoke on condition of anonymity because the deal had not yet been signed. Colts spokesman Craig Kelley said the team had no comment. Manning signed a $98 million contract in March 2004, the season after he shared the league's MVP award with Steve McNair. He followed that with a record-setting 2004 season in which he threw 49 touchdown passes and earned his second straight league MVP award. In 2005, Manning guided the Colts to a 13-0 record and the AFC's No. 1 seed before losing in the divisional round of the playoffs to eventual Super Bowl champion Pittsburgh. more

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02-21-2007, 04:11 PM	#2
Coachnorm Bloggin' Outlaw Premium Member Forum Leader Join Date: Jan 2006 Location: Naples, Fl Posts: 12,348 vCash: 1280810 Donate Blog Entries: 14	Manning, as usual restuctures his contract to help the Colts out. Nothing like getting more money up front from all those extra jersey sales.


02-22-2007, 05:27 AM	#3
The Ram is dumb so type slow Premium Member Forum Leader Join Date: May 2006 Location: Colorado Posts: 2,962 vCash: 140469 Donate Blog Entries: 24	Eleventy-billion dollars now or later is still eleventy-billion dollars.


02-24-2007, 10:37 AM	#4
WesDawg 'Burghapologist Join Date: Jan 2006 Location: Currently Abilene, TX Posts: 1,151 vCash: 126511 Donate	Ever wonder if there are players in the league that get pissed off when good guys like Manning do things like this? Or high-profile guys that avoid free agency by taking the "hometown discount"?