Report: Parameters of Peyton Manning's Next Contract Already in Place

The Denver Broncos are going to watch Peyton Manning throw on Friday, and the word from Mike Klis of The Denver Post is that parameters for a potential deal between Manning and the Broncos are already in place.

According to Klis, both the Broncos and the Tennessee Titans are operating under the perception that it will take "$60 million total, give or take, and a $30 million guarantee, give or take, spread over five years" to sign Manning.

UPDATE: Friday, March 16 at 3:45 p.m. EST

Klis has found out that the numbers he initially reported were inaccurate. He cleared things up on Twitter:

"

My previously reported contract parameters for P. Manning were too low. Broncos, Titans, 49ers working off his old five-year, $90 mil deal

— Mike Klis (@MikeKlis) March 16, 2012"

The Broncos are hoping that Manning will fly to Denver with team boss John Elway and head coach John Fox after today's workout.

Elway tweeted this after Friday's workout:

"

We enjoyed visiting with Peyton today in N.C. He threw the ball great and looked very comfortable out there.

— John Elway (@johnelway) March 16, 2012"

Manning signed a five-year, $90 million contract last offseason to return to the Indianapolis Colts. He and the Colts parted ways earlier this month.