Denver Broncos and Peyton Manning Agree To 5 Year Deal

ESPN’s Adam Schefter reports that the Denver Broncos and free agent quarterback Peyton Manning have agreed to the parameters of a 5 year, $96 million deal. The Broncos have scheduled a 3pm EST press conference to introduce Manning as the newest member of the Denver Broncos.

As Mike Florio points out, there is no mention of what the guaranteed money is, so its impossible to tell how much of the reported $96 million Manning will potentially see. However, ESPN's Andrew Brandt reports that Manning will make $18 million in 2012 with an injury waiver based on a physical for 2013.

Regardless of the guaranteed portion, it will be interesting to see what, if any, effect this has on negotiations between the New Orleans Saints and Drew Brees, who is currently saddled with the Saints' Franchise Tag.

The Broncos beat out the Tennessee Titans and San Francisco 49ers for the right to Manning’s services and will now have to pony up for them. It’s a small price to pay to take your team from 75/1 odds of winning the Super Bowl to 10/1 odds in the space of an afternoon.