Peyton Manning might be one of the best quarterbacks in the game at the moment, but that does not mean he can do it all without the appropriate talent around him. The Denver Broncos have some of their top offensive stars hitting the free agent market and would ideally like to re-sign everyone, but salary cap space could be an issue. Without having too many cap casualties before the start of the offseason, the Broncos and Manning are adjusting his contract.
According to Mike Klis of the Denver Post, the Broncos and Manning are negotiating a restructured contract that would give the team some financial flexibility in free agency to acquire more talent for the roster. The five-time MVP is reportedly willing to take a pay cut in order to re-sign players like Demaryius Thomas and Julius Thomas to long-term contracts.
Restructuring a deal for Manning should be interesting. Just a few weeks ago the Broncos were not even positive the quarterback was going to return to play in 2015. Manning ended the season in disappointing fashion, struggling against the Indianapolis Colts while reportedly injured. The quarterback has two years remaining on his contract and the Broncos may look to make some of his base salary into signing bonuses which could help for the upcoming season, but could make him a heavy hit in 2016. Manning is set to get $19 million in guaranteed money next season and there is certainly a group that believes he is not worth that dollar amount. Is John Elway one of them?
Manning needs talent around him and the only way the Broncos can get that is by restructuring his deal. The new contract means Manning and the Broncos will continue their relationship while having the ability to keep building around him. It is unclear if the next step will be giving Demaryius Thomas a new contract or not. Elway made it clear that the Broncos would not hesitate to use the franchise tag on the receiver as negotiations continue to stall out.
The money could also be used for Julius Thomas who is also set to be a free agent. The tight end has the attention of a lot of teams in the league including the Atlanta Falcons and Oakland Raiders who would love to meet his contract demands. The Broncos were reportedly ok with letting Thomas hit the free agent market, but a restructured deal for Manning might mean that does not have to happen.
