The Denver Broncos and Peyton Manning are working on restructuring the quarterback’s contract, according to a report, which could explain the delay in announcing the former MVP’s return to the team.
The Denver Post’s Mike Klis reported the news Wednesday and speculates that the contract negotiations could account for the holdup regarding Manning’s future.
Manning signed a five-year, $96 million contract with the Broncos in 2012. He made $20 million each of the last two seasons, and he is scheduled to make $19 million each of the next two. The Broncos are likely hoping he can restructure his deal to give them flexibility to strengthen their roster.
Klis adds that Manning and the Broncos hope to resolve the matter by early next week. Manning also needs to pass a physical, but the quarterback reportedly believes that will not be a problem.
