This Jan. 4, 2011, file photo shows Indianapolis Colts quarterback Peyton Manning talking to reporters in Indianapolis. The Colts resigned Manning to a long-term deal that could keep him in Indianapolis for the rest of his career. The team did not release terms of the deal Saturday, July 30, 2011, but it is believed to be for five years.INDIANAPOLIS (AP)-Peyton Manning has a new long-term deal in time to report to training camp.
He still hasn’t been cleared to practice.
Colts owner Jim Irsay said he was “thrilled” to sign the only four-time MVP in league history to a deal that will likely keep him in Indianapolis for the rest of his career. Details of the contract were not immediately available but it is believed to be for five years. The contract is reportedly worth $90 million.
“Signing Peyton was a top priority for this organization and we are thrilled that the deal is complete,” Irsay said in a statement released by the team Saturday. “We feel that it is a salary cap friendly deal and it allows us more flexibility.”
Irsay and team president Bill Polian are scheduled to discuss the deal at a Sunday afternoon news conference.