Peyton Manning Agrees To Restructure Contract
By Michael Williams (3/2/2007)
Peyton Manning is going out of his way to help his team. He has just agreed with Indianapolis Colts to restructure his contract which will save the Colts nearly $8 million in salary cap space.
During the off season, Manning received a multi million dollar roster bonus and now they are converting this bonus into a regular signing bonus. This means that the Colts can now prorate the amount over the remaining four years of Manning’s contract. As a result, the Colts now end up saving space under the cap.
Craig Kelley, Colts spokesman, did not comment on the restructuring and the information was disclosed by a person who was close to the negotiation and preferred to stay anonymous as the deal has not been signed as yet.
In March 2004, Manning signed a seven year contract with the Colts. The same season Manning was the leagues MVP, an award he shared with Steve McNair that year. The following year, Manning had 49 touchdown passes and he went on to win his second consecutive MVP award in the league.
In 2005, Manning also helped the Colts to a 13 – 0 start and were AFC’s number 1 seeded team. They went on to lose in the divisional playoffs to the ultimate winner of the Super Bowl, Pittsburgh.
This season, Manning helped the Colts win their first Super Bowl title since they moved to Indianapolis in the 80s.
Manning has helped Colts reach seven playoffs in nine seasons and this includes five consecutive appearances under the tutelage of coach Tony Dungy. Manning has also broken John Unitas’ record for completions last season and is fast closing on Unitas’ record for passing attempts, yardage and touchdowns. |