Manning inks five-year, $90M deal

Colts quarterback Peyton Manning signed a five-year deal worth $90 million. (REUTERS/Jeff Haynes)

Colts quarterback Peyton Manning signed a five-year deal worth $90 million. (REUTERS/Jeff Haynes)

Sports Network

, Last Updated: 5:45 PM ET

ANDERSON, IND. - Peyton Manning has a new contract. Now it's a matter of the Colts quarterback getting healthy.

Manning signed a five-year, $90 million contract with the Colts on Saturday, a long-term deal that was envisioned when the team put its franchise tag on him before the NFL lockout.

Colts owner Jim Irsay tweeted the details of the contract Saturday afternoon. It pays Manning $69 million over the first three years and $90 million for the length on the contract.

Irsay said the contract, which averages $18 million per year in salary, was cap-friendly.

"Signing Peyton was a top priority for this organization and we are thrilled that the deal is complete," Irsay said in a statement. "We feel that it is a salary cap friendly deal and it allows us more flexibility."

Manning, who has never missed a game in 13 NFL seasons, was among a handful of players who were franchised by their teams ahead of the deadline earlier this year, and before the lockout. He had just finished the final season of a seven-year deal he signed in 2004 that paid him close to $100 million.

The four-time MVP is recovering from surgery to correct a disk-related issue in his neck on May 23 and the Colts said he would start training camp on the Physically Unable to Perform (PUP) list.

Manning can be removed from the PUP list at any time before the start of the regular season. The team said he is currently undergoing daily rehabilitation sessions with the Colts' medical staff.

"There is every medical indication that he is progressing steadily," said Dr. Hank Feuer, the team neurosurgeon, in a statement. "While he looks fine, he still has some rehabilitation to go. Recovery from disc surgery is unpredictable and it is not a medical concern that he is not ready at this time."

Manning also had surgery in March 2010 to relieve pain in his neck caused by a pinched nerve and didn't miss camp. But, this time around, he was unable to meet with team medical personnel during the four-month lockout.

"He works harder than anyone else on the planet and will get himself ready faster than most people," Colts head coach Jim Caldwell said on Friday. "He will work at it."

Manning has passed for 54,828 yards and 399 touchdowns in 208 consecutive starts. He guided the team to a Super Bowl title after the 2006 season.


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