Broncos, Peyton Manning Working On Contract

The Broncos and representatives for Peyton Manning have been working on revising the quarterback’s contract, multiple sources tell Mike Klis of The Denver Post. While the re-worked contract might take some time to get hammered out, it’s probably the strongest indication yet that No. 18 will return in 2015.

Manning recently told Broncos officials he is ready to play at a “significant level” in 2015 now that the quadriceps injury that plagued him down the stretch of last season is fully healed. Manning’s contract currently calls for an NFL-high $19MM salary for ’15 to go along with a $21.5MM cap figure. With so many key free agents for Denver this season, Manning will have to cut the Broncos a break, whether that means simply converting base salary into bonuses or even taking a pay cut. Demaryius Thomas, Julius Thomas, and Terrance Knighton are some of the big names set to reach the open market and the entire list includes one-third of the team’s starting lineup.

The Broncos are about $26 million under their projected $148MM salary cap payroll but that doesn’t include the projected $12.8MM salary Demaryius Thomas will get upon receiving the franchise tag. A source tells Klis that Manning’s agent Tom Condon hopes to reach a conclusion on a revised contract by early next week.

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