Peyton Manning and the Denver Broncos have agreed to terms on a five-year contract, a league supply told NFL Network’s Michael Lombardi on Tuesday.
Manning’s contract is worth $ 96 million, a league supply told NFL Network’s Albert Breer, but NFL Network insider Jason La Canfora reports Manning’s contract essentially boils down to a series of 1-year deals.
The deal includes $ 18 million guaranteed when it is signed, league sources told La Canfora, and there remains ongoing discussion about injury language in the contract, according to sources with expertise of the scenario.
If Manning passes a physical in March 2013 he’ll be guaranteed $ 40 million over the subsequent two seasons. There is presently an injury waiver in location, nonetheless, that should Manning injure his neck in 2013, the Broncos can void the contract at that point and 2014 would not be guaranteed, sources told La Canfora. Those sources also stated there is ongoing dialogue about that injury waiver, and whether or not it should apply to each years, and till Manning signs the deal that is not locked in.
Much of the language and final facts in the contract can remain on the table till the deal truly is signed, according to La Canfora. None of this is large sufficient to preclude a deal, however, the final language on the injury waiver nonetheless could alter somewhat between now and the actual signing.
Cash strapped in latest years, the Broncos put nothing at all up front, according to Lombardi. Manning’s $ 18 million will be paid in the form of guaranteed base salary — which would come in the former of 17 game checks, every single worth a sliver of $ 1 million every.
The Broncos have tentatively scheduled a Tuesday news conference at three p.m. ET in the team meeting space of the Broncos’ education facility, according to a team release. The news conference can be viewed reside on NFL Network, and it will be streamed reside on NFL.com.
The news of Manning’s decision to sign with Denver sent shock waves all through the league and wasn’t lost on the 4-time NFL MVP’s former team.
“I congratulate Peyton as he heads to a tremendous organization in the Denver Broncos,” Indianapolis Colts owner Jim Irsay stated in a statement Tuesday. “We wish him nothing but the best as he continues his Hall of Fame career.”
The Broncos currently have looked into a trade of quarterback Tim Tebow and currently are seeking for a companion, a supply told Breer on Monday. Five teams already have looked into prospective trade for Tebow, a league supply told Lombardi on Tuesday.
Broncos wide receiver Eric Decker, who had 44 receptions for 612 yards and eight touchdowns final season, told NFL Network insider Jason La Canfora on Monday that he expects the offense to modify with Manning now under center and that the quarterback would run the system from the line of scrimmage.
“More of the offense will be in Peyton’s hands,” Decker stated.
The Broncos had been one of 3 finalists for the 4-time NFL MVP, along with the Tennessee Titans and the San Francisco 49ers. The Arizona Cardinals and Miami Dolphins also had been in the hunt and received meetings with Manning but ultimately didn’t make the final three.
(About:) This report was distributed by Syndicated Sports news wire and aggregation service, For much more NFL news see: Peyton Manning, Broncos agree to five-year, $ 96 million deal.