Jim Irsay and Peyton Manning got a deal done before the start of training camp.
Colts owner Jim Irsay tweeted Saturday morning, “Peyton and I will have a table for 2 today at Rick’s Boat Yard” -Large napkins,sharp pens-let’s get ‘er done!”
And they did just that.
First reported on ESPN, Peyton Manning has reached a long-term deal with the Colts, worth $90 million over five years. He will be paid $23 million a year for the first three years and the contract is cap-friendly.
After the deal got done, Irsay tweeted, “It’s a credit 2 Peyton; He put Colts fans, teammates, Indianapolis and winning ahead of all else.”
This was a long process in the making. Irsay has said for a while that he intended to make Manning the highest-paid NFL player. Instead, Manning took less money, giving the Colts more leverage to sign free agents and retain their own.
A very classy move by Manning, who agreed to a deal matching the amount per year rival Tom Brady is making in New England–$18 million a year.
Peyton, 35, easily could have bargained for a contract anywhere from $20-25 million a year. It would have maxed out the Colts, but nobody in the league could argue that he wasn’t worth it.
Last spring, the Colts had applied their exclusive franchise tag to Manning, paying him about $23 million this season. It’s clear number-18 has his future and legacy in mind.
Sports business guru Darren Rovell did that math. Under his new contract, Peyton Manning will make $1,125,000 a game or $281,250 per quarter.
To clear up the public relations hit Manning was taking for now getting a deal done early in the week, the Colts leader called the Indianapolis Star to “clear the air.”
“While I appreciate Jim Irsay offering to make me the highest-paid player, I told him I’d rather he save that money and keep whoever it is, Joe Addai, Charlie Johnson…whoever that may be. I’m willing to take less than they’ve offered if they are going to take that money to keep players we need to keep and go get other players. All I want is for them to have the cap and the cash to keep the players they want to keep and to sign other players.”
The Colts report to Anderson University on Sunday for training camp, which begins on Monday August 1st.
Click here for a full list of free-agent and undrafted free-agent signings made by the Colts.
About time!!! Glad to see something finally get done. We can all move on now.
Man, must be nice to make over $18 million a year just for football. Don’t forget about all his endorsements. 18 is making $$$$$$$.
im glad we don’t have to worry about Peyton for another 5 years.now let’s sign our own and find a couple steals in free agency. its important to take advantage of the remaining years with ole’ 18
GO HORSE!