Manning Finds New Team And 5-Year, $96M Deal
On Tuesday morning, the Broncos announced a press conference for 3 p.m. ET, meaning that they would probably be introducing Peyton Manning as their new quarterback. That's precisely what they're going to do, and now, Manning has signed a five-year, $96 million deal.
It doesn't matter too much, though, unless the contract is heavily incentive-laden and/or just absolutely lacking in guaranteed money. Because, as you might recall, the previous contract that Manning negotiated with the Colts was a five-year deal worth $90 million. Yes, that's right: he's going to make more with the Broncos (in theory) than he did with Indy.
So props to his agent Tom Condon for negotiating that deal. And double props to Condon for helping to crank up the market value for another client, Drew Brees. As Clark Judge notes, Brees is a big winner when it comes to Peyton's contract details.
Brees wants a long-term deal from the Saints, and Peyton's Colts deal getting voided temporarily hurt his value as a franchise player as well as his negotiating ability. Now? Psssh. Brees can actually look back at the reported five-year, $90 million deal the Saints offered him and laugh.
Not laughing? Jim Irsay, Colts owner. But he says he's happy for Manning.
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