Pro Football is reporting that future hall-of-famer quarterback Peyton Manning has just signed a new contract with the Denver Broncos, but the deal will not alter how much he makes.
The NFL’s official transaction page calls the new deal a “renegotiated contract,” but a source disclosed to Pro Football Talk that Manning is still set to receive $40 million over the next two seasons in $20 million dollar installments. Manning’s new contract, according to the report, adds a new insurance clause the Broncos purchased just in case their star QB suffers another serious injury.
Should he get injured again, the insurance clause will compensate the Broncos and provide a cap credit. The Broncos can avoid the $20 million payment in 2014 only if Manning suffers an injury to the same area of his neck.