Peyton Manning Takes Pay Cut, Will Return to Broncos for 2015 Season
When the Denver Broncos' season ended in the divisional round, Peyton Manning's future became the team's focus. The five-time MVP struggled down the stretch in the regular season and looked bad against Indianapolis in a 24-13 upset loss.
There was speculation Manning may not return to the Broncos for the 2015-16 season. The team was reportedly preparing to move in another direction without Manning if he was unwilling to restructure his contract, but on Wednesday he agreed to a pay cut and explained he is excited to be back.
Continue for updates.
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Manning Restructures Contract, 'Excited to Get to Work'
Wednesday, March 4
Manning agreed to take a $4 million pay cut to return to the Broncos in 2015, meaning he'll make $15 million instead of $19 million, per Chris Mortensen and Jeff Legwold of ESPN. The report added: "The contract is not final until Manning passes a physical exam, which he is expected to take within 24 hours, sources said. Other minor details on the contract also are being finalized, a team source said."
According to Mike Klis of The Denver Post, Manning was initially asked to take an even bigger pay cut. Klis suggested Manning was "irked" by the situation.
Manning commented on the news:
"I don't talk about my contract. I never have in 18 years and I'm not going to start now. I've been working real hard and I'm excited to be back with the Denver Broncos. Can't wait for April 13 to get here when the team can finally come together. I'm excited to get to work and get to know the new coaches and looking forward to trying to make 2015 a special year.
"
Bleacher Report NFL Insider Jason Cole had previously reported that Denver was preparing to move on from Manning if he didn't take a pay cut and restructure his deal:
NFL Network's Ian Rapoport added details surrounding Manning's upcoming physical as it relates to his contract:
On Feb. 25, Klis reported that the Broncos and Manning's camp were looking to restructure his contract, which may explain the delay in announcing his return:
"The Broncos and representatives for Peyton Manning have been working on revising the quarterback's contract, according to multiple NFL sources.
Manning is scheduled to draw a $19 million salary in 2015 and 2016 — down from the $20 million he made in both the 2013 and 2014 seasons.
Restructured contracts can get complicated, which could explain why there's been a perceived delay in Manning formally announcing his intention to return to play in 2015.
"
Manning Seen Shooting Gatorade Commercial in Broncos Uniform
Tuesday, March 3
ESPN's Peter Burns reported that Manning was spotted shooting a commercial in Broncos gear:
Elway Comments on Manning
Thursday, Feb. 19
John Elway had quite the compliment for Manning on Thursday, per Lindsay Jones of USA Today:
He would go on to talk about his potential fit in Gary Kubiak's offensive scheme, per the Around the NFL and Albert Breer of NFL.com:
"Elway: "Peyton can fit in this offense very easily. ... For an older quarterback, it's the perfect system to be in."
— Around The NFL (@AroundTheNFL) February 19, 2015"
Manning Visiting Kubiak Often but Has Given No Assurance on Decision
Wednesday, Feb. 18
FoxSports.com's Alex Marvez reported Wednesday that "Kubiak said he has no assurance Peyton is back but has visited him often in past few weeks." Marvez added that Manning "has been very 'positive.'"
Manning Meets with Elway, Assures Broncos He's Physically and Mentally Ready
Friday, Feb. 13
ESPN's Chris Mortensen reported that Manning has expressed his ability to play again in 2015:
"Peyton Manning reassured Denver Broncos officials, including general manager John Elway, that he is physically and mentally prepared to play at a significant level in 2015, league and team sources told ESPN's Chris Mortensen.
The two sides met Thursday in Denver and while retirement technically remains an option for Manning, it is not one he expressed to Elway and CEO Joe Ellis, sources said.
The Broncos and the quarterback have other elements to explore in the coming days that range from a potential contract restructuring to having a formal physical exam, as mandated in Manning's contract, sources said.
"
Michael David Smith of Pro Football Talk reported that Manning's decision is expected to come within the next week. Smith quotes Mortensen, who said, “I would be surprised if we don’t have some type of word next week some time. That’s when I would expect that we would have word, officially, that Peyton is going to play football. Manning has got his heart, his mind, his spirit and his body ready to play in 2015."
Klis reported that "Broncos quarterback Peyton Manning met with general manager John Elway at the team's Dove Valley headquarters Thursday afternoon. Manning left Thursday evening, but was not ready to make an announcement on whether he will play in 2015."
Broncos Reportedly Undecided on Manning Return
Tuesday, Feb. 10
Cole passed along what he heard regarding Manning's health and Denver's thoughts on the legendary quarterback's potential return:
Manning Reportedly Training in New Orleans, Plans to Return
Monday, Feb. 9
Manning is back to training and plans on playing in 2015, according to Jeff Duncan of NOLA.com:
"Peyton Manning is back home in New Orleans and training with the intent to play the 2015 NFL season, a source close to Manning said Monday.
The Denver Broncos' quarterback has been evaluated by renowned fitness trainer Mackie Shilstone and is expected to begin training with Shilstone this week as he starts offseason preparations for his 18th NFL season, two sources close to Manning said Monday.
Manning wants to talk with Broncos executive vice president and general manager John Elway before announcing his intentions for the 2015 season, a source said. He hopes to talk to him in the next couple of days.
"
Manning Expected to Return, Comments on Pending Decision
Monday, Feb. 2
Gil Brandt of NFL.com is reporting that Manning will likely return for another season with the Broncos.
On Sunday, Feb. 1, Mortensen reported Manning is expected to announce his decision to return to the Broncos soon:
"Manning could decide as early as the coming week that he is indeed returning for an 18th season, according to sources.
Manning has been fairly persuaded that all will work well between him and new head coach Gary Kubiak, who is ready and willing to fit his scheme to play to the quarterback's strengths but it still will be Kubiak's system.
"
On Jan. 30, Bob Glauber of Newsday provided Manning's latest thoughts on whether he will retire from the NFL:
Lynch Would Be 'Shocked' If Manning Retires
Wednesday, Jan. 28
According to Vic Lombardi of CBS 4 in Denver, former Bronco standout-turned-NFL analyst John Lynch gave his thoughts on Manning's potential retirement:
Lynch's thoughts jive with what we've previously heard about Manning's thoughts on retirement. On Jan. 21, Woody Paige of The Denver Post reported that Manning wants to return to Denver next season:
"According to three trustworthy sources, Manning wants to return to the Broncos, but won't and can't make a final decision until he takes an annual physical examination mandated by his contract. Last year, the test results were learned at the beginning of March. The Broncos have requested that Manning let them know his plans by March 9 — the day before teams must exercise their rights on veteran players under contract. Manning, who turns 39 on March 24, is due $19 million next season.
"
On Jan. 20, Klis reported that Manning has a hard deadline by which a decision on his future needs to be made:
"Whatever Peyton Manning decides about his future, he must decide by March 9.
[...]
There is a hard deadline, though. Manning's contract stipulates that his $19 million salary for the 2015 season becomes fully guaranteed if he is still on the Broncos' roster by the final day of the 2014 league year.
The new 2015 season begins on March 10, so Manning would have to notify the Broncos of his intentions by March 9. The Broncos signed Manning to a five-year, $96 million contract in March of 2012. He drew salaries of $18 million in 2012; $20 million in 2013, when he broke all the league's significant single-season passing records; and $20 million this past season.
"
On Sunday, Jan. 18, Rapoport tweeted that Manning remained undecided on his future and noted that team veterans knew changes were possible if the Broncos failed to reach they Super Bowl.
John Elway Comments on Manning's Future
Tuesday, Jan. 13
ESPN's Adam Schefter reported Manning played the last month of the year with a torn quad.
That was the first major story involving the Broncos, as the team and head coach John Fox agreed to part ways after four seasons, via the team's official Twitter:
Broncos general manager and Executive Vice President of Football Operations John Elway told reporters Manning would assess the situation before making any decisions about his future, adding that more will be known in the next month, per NFL Network's Jeff Darlington:
Elway also talked about the need for Manning to get away from everything for the time being before thinking about the future, via Rapoport:
Troy Renck of The Denver Post asked Elway if he believes Manning will be around to lead the Broncos to a Super Bowl:
Tom Pelissero of USA Today included this quote from Elway about whether the Broncos still want Manning, given how the season ended:
As far as who is on the sidelines leading Denver, via Around the NFL, Elway said he will include Manning in the search for a new coach:
Manning was asked about his future after losing to the Colts and sounded uncertain, via Jim Corbett of USA Today: "Yeah, I guess I just can't give that simple answer without processing it. I can't say that. I could not say that."
The elephant in the room in the final month of the year related to Manning's arm strength. NFL.com's Albert Breer addressed the topic:
"From an AFC executive: 'Saw a lack of velocity, declining arm strength. No juice or zip on throws. Shelf life.'
One NFC scout said: 'It's sad watching him, even more sad how Denver treated one of the greatest. Arm looks shot, sad seeing him look like that, knowing how big a competitor he is.'
An AFC scout: 'Missed deep ball, routine throws were getting knocked down because he couldn't drive the ball, timing was off. Never looked like he could get in a routine. He couldn't dictate the game like normal because he just couldn't make the throws that needed to be made.'
And an NFC exec: 'Terrible overthrows and incompletions. He may be hurt.'
"
Michael Ginnitti of Spotrac broke down Manning's contract, which pays him $19 million in base salary each of the next two years and a $21.5 million cap hit. If the Broncos decide to move on from the soon-to-be 39-year-old, it will happen before March 10:
"If the Broncos decide to cut ties with Manning, they’ll do so prior to March 10 (when the salary guarantee kicks in). In doing so, they’ll incur $5 million in dead cap ($2.5 million in 2015, and $2.5 million in 2016). Peyton will be owed no additional salary and will be free to sign with any team immediately.
"
Manning was in the MVP conversation for the first three months, even though his numbers weren't as gaudy as his historic 2013 season. It ended with a whimper in the playoffs and so many questions.
Manning has earned the right to dictate what he does, but the Broncos also have to take into consideration what's in the best long-term interest of the franchise. They have financial concerns when it comes to their star quarterback.
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