Peyton Manning restructures contract to finalize return to Denver Broncos
Peyton Manning is finalizing his return to the NFL and the Denver Broncos by reducing his salary for the 2015 season by $4 million.
The Denver Broncos have been expecting Peyton Manning to formally announce his intentions to return for his 18th season in the NFL and came one step closer to that by agreeing to a modified contract for the upcoming season.
Manning was scheduled to make $19 million in 2015 but he and the Broncos restructured his deal that will free up some salary cap space after he took a $4 million pay cut and will make instead make $15 million this year, according to Jeff Legwold and Chris Mortensen.
Peyton Manning ready to take $4 million pay-cut on deal in final stages; he'll make $15 million, not $19 million, per @Jeff_Legwold & myself
— Chris Mortensen (@mortreport) March 4, 2015
The restructuring of his contract was one of the last hurdles for Manning to formally announce his return to Denver for a fourth season in the Mile High City, but John Elway, head coach Gary Kubiak and the majority of NFL fans widely expected Manning to return for at least one more year.
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Manning faded down the stretch last season and his arm lacked the zip and strength he had earlier in the season and in the 2013 season when he led the NFL in completions, attempts, yards and touchdowns, including setting a record for 55 passing touchdowns and 5,477 yards.
He threw for 4,727 yards, 39 touchdowns and 15 interceptions in 2014, but was only 26-of-46 passing for 211 yards and one touchdown in the Broncos playoff loss his former team, the Indianapolis Colts when the proverbial torch was passed from Manning to Andrew Luck.
With Manning giving the Broncos pack $4 million, could these savings be used to come to a new deal for free agent tight end Julius Thomas or work towards a long-term deal with the franchise-tagged Demaryius Thomas?
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