Peyton Manning, Broncos talk about reworking contract

By Cindy Boren February 26 at 9:27 AM

Peyton Manning (right) presents the AP MVP award to Aaron Rodgers last month. (Frank Micelotta / Invision for NFL / AP Images)

One way or another, some big questions about Peyton Manning will soon be resolved.

Manning, who has given no indication that he intends to retire, and the Denver Broncos have begun to discuss reworking his contract, according to the Denver Post and other sources, although it is unclear whether restructuring or reducing the contract is in play. Manning, who will turn 39 next month, is due $19 million in each of the next two seasons and his salary counts $21.5 million against the cap. Both sides hope to resolve the talks by March 9, the day before the NFL’s new league year begins. Manning will have his physical, including an examination of his surgically repaired neck, by March 5. Manning expects to be given a clean bill of health after finished the last month of the season with thigh injuries.

If Manning accepts a pay cut, he’d be following the template used by Tom Brady, who has reworked the terms of his contract to allow the New England Patriots to sign free agents and remain competitive. And, somehow, in the process, Brady ended up making more money, so do not fear that the Manning will suddenly be clipping coupons. Here’s how, via the Denver Post’s Mike Klis, the Brady deal worked:

Here’s how it worked: In his former contract, Brady was to make $15 million (salary, roster bonus and workout bonus) in 2013 and $15 million in 2014. A combined $30 million.

After the restructuring, Brady made a combined $33 million in salary and bonuses. Brady not only got an additional $3 million, he got the bulk of his new deal upfront – which would appeal to any player who will turn 38 in August.

No doubt, Brady took far less than market value when three additional years — at $8 million in 2015, $9 million in 2016 and $10 million in 2017 — were eventually tacked on to his new contract.

Converting Brady’s 2013-14 salaries to a bonus also gave the Patriots significant salary cap relief, as they were able to prorate the $30 million through 2017.

But in summary, Brady did not take a pay cut from the years left on his old deal — he actually got more money. He only took less with a new deal in seasons when he is scheduled to play at ages 38, 39 and 40.

Manning wants to play and expects to, the Post reports, but replenishing the talent around him, under new Coach Gary Kubiak, is essential.

After spending most of her career in traditional print sports journalism, Cindy began blogging and tweeting, first as NFL/Redskins editor, and, since August 2010, at The Early Lead. She also is the social media editor for Sports.