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Colts re-sign Peyton Manning


CaptainHook
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Any roadblock to a lucrative and likely final contract for Peyton Manning was cleared when Indianapolis Colts owner Jim Irsay and his celebrated quarterback sat down and had a meeting of the minds.

 

The result: a five-year, $90 million contract for Manning. The annual average -- $18 million -- ties New England Patriots quarterback Tom Brady for the highest in NFL history.

 

"It works for both of us," Irsay said Saturday evening, "and that was important.

 

"When you have a great player, a Hall of Fame player, a player who has done so much, it's a special relationship. I'd like to say it happens twice in a lifetime, but you never know. I don't know if I'm that lucky."

 

Manning, the four-time league MVP, will make $69 million over the first three years of the contract.

 

The Colts, meanwhile, got the immediate salary-cap relief they were desperately seeking. Manning will count $16 million against the league's $120.3 million salary cap this year. The number remains in the $17 million-$18 million range for 2012.

 

To reach common ground, Irsay and Manning maintained a dialogue the past few days that helped expedite the process. It was left to vice chairman Bill Polian and Tom Condon, Manning's agent, to finalize the deal, which they did Saturday.

 

"We had some real specific conversations over the last couple of days. We stayed in close contact," Irsay said. "Ultimately, we were the ones that were going to have to sign it.

 

"We needed to get it done this week. I knew once I talked with Peyton and he felt the same way, I thought we would."

 

Manning met with Irsay and Polian on Thursday, informing them he would accept less than the team was offering -- believed to be $20 million per season -- as long as the savings would be used to further strengthen the roster. Remaining a Super Bowl contender, not maximizing the contract, was Manning's desire.

 

Shortly after Manning's contract was announced by Irsay on his Twitter account Saturday afternoon, the team re-signed veteran running back Joseph Addai. On the flip side, the Colts released veteran cornerback Kelvin Hayden. The Colts still have an interest in re-signing offensive lineman Charlie Johnson.

 

The fate of offensive tackle Ryan Diem remains uncertain. He is due a $5.4 million base salary this season. The team has told him to accept a pay cut or be released.

 

Cliff Brady, Diem's agent, said Diem wants to remain with the team, but that depends on the severity of the pay cut request.

 

Manning's willingness to be relatively reasonable with his contract demands and not maximize his leverage -- he would have counted a debilitating $23.1 million as a franchise player -- was critical. And not a surprise to Irsay.

 

"Through the years, I've known Peyton's sincerity about wanting to win here and win big and to have great teammates around him,'' he said. "That's what he's about.

 

"I told Peyton, and he agreed, that it was important for everyone to know that he's going to be here and finish a Colt."

 

Manning, 35, is entering his 14th season. He will be 39 in the final year of the contract.

 

The Colts report to Anderson University this morning for the start of training camp. Manning will open camp on the physically unable to perform list as he continues his rehabilitation from May 23 neck surgery.

 

Manning couldn't be reached for comment.

 

Irsay insisted Manning's health played no role in contract discussions. The neck procedure was Manning's second in the past 15 months.

 

"That was never really taken into account," Irsay said. "It's something that we're hopeful (about) and he should heal up well in the next four weeks. Long term, it should heal up and be fine. The only thing that was on my mind was we needed to get it done. That was the focus."

 

Once healthy, Manning will resume his attack on the NFL's career passing charts. He enters 2011 ranked No. 3 in touchdowns (399), yards (54,828) and completions (4,682) and fourth in attempts (7,210).

 

Manning's 141 regular-season wins ranks No. 4 behind Brett Favre (186), John Elway (148) and Dan Marino (147). He has led the Colts into the playoffs in 11 of his 13 seasons, including the past nine, which ties an NFL record for consecutive appearances.

 

from indystar.com

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The big surprise is that the Colts were offering over $20 million per year on average, but Peyton didn't want to take it. He wants the Colts to be able to afford other players. A smart move since he is on the back side of his career and he wants to win another Super Bowl.

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