A person with knowledge of the situation told The Associated Press that Manning will take a $4 million pay cut, from $19 million to $15 million, but that he can make it all back through performance incentives. The person spoke on condition of anonymity because there was no official announcement of the deal.
Even under new management, the Broncos offense can be built to fit Manning's game. The still-lingering question: Will Manning be in Denver to run it? Last week, Manning flew to Denver to meet with Broncos executive John Elway, but he left without making any announcement about his future.
Manning has been mulling his future since the Broncos were bounced from the playoffs by his old team, the Indianapolis Colts, last month. Elway told Manning he wanted him back and asked him not to make a rash decision. Manning said at the Super Bowl he planned to talk with Elway and team president Joe Ellis before making up his mind whether to return for an 18th season in the NFL, fourth in Denver and first with new head coach Gary Kubiak.