Weeks of speculation about Peyton Manning’s future ended on Wednesday with word that he is returning for an 18th season in the NFL and fourth in Denver.
A person with knowledge of the situation said that the five-time Most Valuable Player will take a US$4 million pay cut, from US$19 million to US$15 million, but that he can make it all back through performance incentives.
The person spoke on condition of anonymity because there was no official announcement of the deal.
Manning was to take his physical and sign his revised contract yesterday, then return on April 13 for team conditioning.
Manning mulled retirement after the Broncos’ playoff loss to the Indianapolis Colts. However, he determined he still had the health and hunger to keep playing at age 39, when he tries to become the oldest quarterback to win a Super Bowl.
Manning, who won a title with the Colts in 2006, met with general manager John Elway a few weeks ago after taking some time to decompress from an arduous season and told him he was not ready to retire.
However, reminiscent of Brett Favre’s annual flirtations with retirement, this saga dragged on as the Broncos and Manning’s representatives reworked the quarterback’s contract.
The US$4 million savings will not drastically change Denver’s free-agency plans. It gives Elway about US$20 million to work with, but much of that will go to his own restricted free agents and a large draft class.
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