The Denver Broncos quietly restructured the contract of quarterback Peyton Manning earlier this week, and while it doesn’t change any of the numbers in Manning’s deal with Denver, the team added an insurance clause into the contract incase Manning for some reason does not play on the team during the 2014 season.
“It has no effect on the financial aspects of Peyton’s contract, and it was expected once the guarantee came into play,” said Manning’s agent Tom Condon. “They’d certainly want to protect themselves in case of injury.”
Retirement is also something that is in the back of Denver’s mind, but Manning’s neck is still clearly vulnerable and the team is taking no chances, even after his amazing comeback season in 2012. The way his old contract was structured, Manning’s 2013 and 2014 salary became fully guaranteed since he was on roster at the start of the league year back in March.
By restructuring the deal, Denver would only have to pay Manning for 2013 if something dramatic happened to him. He’s currently signed through the 2016 season in Denver, but the final two seasons are voidable if the Broncos cut Manning lose. The restructuring of the deal now protects Denver an extra season since now 2014 is covered as well.
Manning has been injury free since missing all of the 2011 season with the Indianapolis Colts and put together one of his finest seasons to date in 2012. Denver made a slew of free agent signings this offseason to boost the team, chief among them being the addition of former New England Patriots speedster Wes Welker.