Posted Tue Mar 20th by Jon Heath
It’s official now, quarterback Peyton Manning has agreed to terms with the Denver Broncos on a five-year, $96 million deal, according to ESPN‘s Adam Schefter. The contract will keep Manning in Denver through the 2017 season, if he chooses to play that long.
Per ESPN‘s Andrew Brandt, Manning will make $18 million this season and the team has an injury waiver in the contract in case Manning does not pass his physical next season. Manning will make $40 million more from 2013-2014 and $19 million in 2015 and again in 2016.
The Broncos will hold a press conference to announce the signing of Manning at 3 p.m. (ET) this afternoon which will be streamed live on DenverBroncos.com (we will post a link when it becomes available). The team sent out an email an hour ago “tentatively scheduling” the press conference for 3 p.m. (ET), so the time is subject to change.
With Manning now in Denver, Schefter says the three teams he expects to pursue Tim Tebow will be the Jacksonville Jaguars, Green Bay Packers and San Francisco 49ers. The Broncos are expected to soon place Tebow on the trading block.
In other Broncos news, the team re-signed offensive guard Manny Ramirez on Tuesday.