Incog_Negro
02-21-2007, 08:11 PM
Manning Restructures Contract To Give Colts Cap Room
http://www.realgmfootball.com/images/nfl/4.2/wiretap/photos/Manning_Peyton_ind_070204.jpg
NFL.com - 02/21 - 1:54 PM EST (AP Photo)
Peyton Manning has agreed to restructure his contract with the Indianapolis Colts to save the team nearly $8 million in salary-cap space.
The Super Bowl MVP was to receive a multi-million-dollar roster bonus during the offseason but by converting the money into a regular signing bonus, the Colts can prorate that amount over the remaining four years of his deal. That saves Indianapolis space under the cap, which is $109 million.
The restructuring was disclosed to The Associated Press by a person familiar with the negotiations who spoke on condition of anonymity because the deal had not yet been signed.
Colts spokesman Craig Kelley said the team had no comment.
http://www.realgmfootball.com/images/nfl/4.2/wiretap/photos/Manning_Peyton_ind_070204.jpg
NFL.com - 02/21 - 1:54 PM EST (AP Photo)
Peyton Manning has agreed to restructure his contract with the Indianapolis Colts to save the team nearly $8 million in salary-cap space.
The Super Bowl MVP was to receive a multi-million-dollar roster bonus during the offseason but by converting the money into a regular signing bonus, the Colts can prorate that amount over the remaining four years of his deal. That saves Indianapolis space under the cap, which is $109 million.
The restructuring was disclosed to The Associated Press by a person familiar with the negotiations who spoke on condition of anonymity because the deal had not yet been signed.
Colts spokesman Craig Kelley said the team had no comment.