Jim Irsay Wise to Refuse Paying Peyton Manning's Huge Option Bonus

Slowly but surely, Peyton Manning's inevitable departure from the Indianapolis Colts draws closer. Colts' owner Jim Irsay said publicly that the team would not be picking up Manning's $28 million roster bonus due in March.

And honestly, who could blame him? Here's what he had to say on Tuesday, via Don Banks of Sports Illustrated:

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Irsay said he expects to have the long-awaited meeting with his veteran quarterback to decide Manning's fate in "the next week or so.'' But any discussion about Manning's future in Indy will have to include the restructuring of his 2012 contract into an incentive-laden, performance-based deal, given the uncertainty that surrounds Manning's slow rehabilitation from two 2011 neck surgeries.

"He may not ever be able to play again,'' Irsay said. "We just don't know that yet. It's a question of whether his arm comes back, and the nerve regeneration occurs. It's always been an issue about his long-term health after football, that's the big issue. And then there are salary cap consequences that have to be dealt with as part of his return. But it's going to be his call whether he stays.

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Even Manning has to understand where Irsay is coming from on this one. Loyalty is one thing—and if anyone in the NFL has earned the loyalty of his team, it is Manning—but guaranteeing $28 million to a quarterback who might never be the same again, if he returns at all?

That would be far too foolish. Even loyalty has its limits.

Often times in this case, Irsay putting the ball in Manning's court like this before the two even met was a cheap negotiating ploy. But Irsay is being forthright with Manning and doing the smart thing.

Irsay's subtext is basically this:

We want you to stay. We've never wanted to push you out of town. You changed the face of this franchise, and we'll never forget that. But between your health and the enormity of that roster bonus, we're going to have to work something else out if you want to stay with the Colts.

I mean, c'mon dude, we've got a young stud in Andrew Luck coming in, and we can't afford to utilize such a huge chunk of our cap between two quarterbacks when we have so many other needs on our roster. So it's your call, renegotiate your contract and stay, or take your chances elsewhere. We understand either way.

I almost universally take the side of players in any contract discussions or labor talks—people don't pay to watch the owners, after all—but in this case, I'm with Irsay. The Colts stand to lose far too much by paying Manning $28 million next year.

Sadly, the end of Peyton Manning in a Colts uniform now seems more assured than ever.

Hit me up on Twitter—I'm #Linning.