Archives for Denver Broncos

Decision Day in Denver

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I’m surprised Florio hasn’t piped in with this one yet, since it’s right up his alley, but today is a D-Day of sorts for the Broncos. If they don’t choose to cut Peyton Manning today (they won’t, of course, as he played at an MVP level and was more than they could have ever hoped for, carrying a team with re-tread wide receivers to the AFC’s 1 seed and representing a massive upgrade over Tim Tebow), they’re on the hook for his 2013 and 2014 salaries at $40 million in total guarantees.

Maybe the reason this is such a non-item is that this year there’s no question as to his health and his effectiveness. And if Joe Flacco is worth $20.1 million a year, Peyton F. Manning is sure as hell worth $20.

Mar 11, 2013

Peyton Manning’s (New) Contract

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Well, now there’s even more proof of the genius of Tom Condon, the super agent that makes self-declared super agent Drew Rosenhaus look like a child.

Less than nine months after he secured an injured Peyton Manning a $26.4 million payout, breaking hearts in Indiana and nationwide in the process, he has now negotiated a bigger and better deal for his client, who is now going to be locked in for another year for even more money!

This contract, which I must repeat is for a player who missed all of last year and will be 40 when it ends in 2016, is for 5 years and a whopping $96 million, eclipsing the previous contract’s 5/90 total that was unrealized. Coming off a one year $26.4 million deal in reality, Manning now has signed a 1 year deal with $18 million guaranteed (all salary), after which (if he is on the roster at the end of the 2012 league year, on March 11, 2013) a new guarantee will kick in and net him  a total of $38 million guaranteed for all injury for 2013-2014 and $58 guaranteed through 2015 if he doesn’t have a neck injury in 2013. If he is on the roster at the end of the 2014 league year, his 2015 salary becomes guaranteed at $19. The same is true the following year.

So there are no bonuses and no tricks: Manning gets paid $18 million in 2012 whether he plays or not. The Broncos can cut him before March 11, 2013 and owe nothing more. Otherwise they owe $40 million for the next two seasons and then have the option to cut him or pay him $19m before each of the next two seasons. If he can play in 2012, it’s likely that the total, barring retirement or a total dropoff, will be the full $96 million over five years, ending when he is 40 years old.

This is, for sure, a more team-friendly deal for the Broncos than the one he signed in July 2011 with the Colts, who will be eating $10.4 in dead money in 2012, had to cut a legend, and already suffered through one bad season and may have to weather another one or two more before contending again. But it’s still a giant contract for a player coming off a series of surgeries, with major question marks, who will be 40 at the end of the term. It’s not a big win for the Broncos financially. And it makes me wonder why exactly John Elway made a big show of firing a very well qualified and loyal executive in Mike Bluem recently (coincidentally, he was hired by the Colts last week) in order to hire a “bulldog” of a negotiator (former agent Mike Sullivan), only to see his shark negotiator get run over writing a deal that any of us could easily have done just as well.

 

Mar 21, 2012