Denver Broncos quarterback Peyton Manning agrees to pay cut
Thursday 5 March 2015 22:50, UK
Peyton Manning has agreed to take a pay cut to remain with the Denver Broncos, the first time the quarterback has done so in his career.
The 38-year-old, who finished second in the league with 39 touchdown passes last year, will see his basis salary drop by $4 million to $15 million next season.
"We're glad to work something out with Peyton so that he will be part of our team this season," said Broncos general manager John Elway.
Manning, who is heading into his 18th NFL season, can still earn the $4m in bonuses.
The five-time NFL MVP threw for a league-record 55 touchdowns in 2013 and is the NFL's all-time leader in that category. He finished last year's season with 4,727 passing yards and a 101.5 quarterback rating.
Manning is entering the fourth season of a five-year, $95m contract he signed three years ago with Denver.
The Broncos have brought in a new head coach, Gary Kubiak, which led to speculation Manning could be replaced, but Kubiak insists he is still happy to have him on board.
"I'm excited Peyton is returning, and I look forward to working with him and all our players starting next month," said Kubiak.
Manning has started every game with the Broncos and led Denver to an AFC championship in 2013.
