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ANDERSON, Ind. (July 28, 1998) -- Peyton Manning was a record-setting quarterback with the University of Tennessee. Today, he'll be a record-setting quarterback with the Indianapolis Colts -- even before stepping onto the training camp field. On Tuesday, Manning, the first overall pick in the NFL draft, agreed to a six-year contract that includes a rookie-record $11.6 million signing bonus. The entire package could be worth as much as $48 million if every incentive is achieved. And that would be another rookie record. Both figures eclipse those obtained by quarterback Ryan Leaf. The second overall pick in the draft, Leaf signed a five-year deal with the San Diego Chargers on Sunday that includes an $11.25 million signing bonus and has a potential payoff of $31.25 million. Manning's staggering deal is the result of extensive talks on Tuesday between Tom Condon, Manning's agent, and Colts President Bill Polian. Neither man was available to comment Tuesday. Manning flew from his home in New Orleans to Indianapolis on Tuesday night. He is expected to sign his mega-deal this morning, then report to Anderson University in time for this afternoon's practice. "I've been patient, but it's been hard," Manning said before leaving New Orleans. "I'm used to playing football. "Honestly, this has all been new to me. In college, all you worried about was playing football. But now, that's only part of it. "You have to take care of the business side, and you have to make sure it's done right." Manning said he has been working out in New Orleans and doesn't anticipate needing too much time to get up to speed with his new teammates. His signing ends a six-day holdout that cost him eight practices. While he's been in New Orleans, Kelly Holcomb has worked as the team's No. 1 quarterback. The Colts' new leader, expected to play a key role in changing the fortunes of a team that went an NFL-worst 3-13 last year, said he's ready to jump into practice. "I know I've missed some time. But later on, if I'm struggling, I don't want people to say I'm struggling because I missed the early part of training camp," he said. "If I'm struggling, it will be because I'm a rookie in the NFL. "Starting (today), I can start earning my way. That's the way it should be. Now, it's all up to me." Manning declined to discuss the particulars of his contract. Maybe the sheer enormity of it had yet to set in. According to a source familiar with the negotiations, the final three years of Manning's contract can be voided -- or erased -- if certain incentives are met. The unspecified incentives are not considered difficult to achieve. If that happens, the Colts can exercise an option to buy back the final three years by giving Manning what amounts to a second signing bonus of $8.4 million. If the buy-back is used, the six-year contract will be worth at least $42 million to Manning and, at most, a whopping $48 million. Before Manning and Leaf received eight-figure signing bonuses, the previous high-water mark for a rookie belonged to running back Ki-Jana Carter. The No. 1 pick in 1995 received a $7.12 million signing bonus from the Cincinnati Bengals. The bonuses secured by Manning and Leaf are only surpassed by selected veteran stars. Dallas gave running back Emmitt Smith $15 million and cornerback Deion Sanders $12.99 million. Quarterback Brett Favre got $12 million from Green Bay. The financial commitment the Colts made to Manning on Tuesday is the culmination of a commitment they first made on April 18. That day, they made the All-American from Tennessee just the ninth quarterback to be selected first in the NFL draft since 1970. No sooner had Manning pulled on his Colts hat than he was named the team's starting quarterback. While Polian couldn't be reached Tuesday, he made his feelings toward Manning known in April. "We obviously think Peyton is a special person and a special player," he said. "And we're going to throw him in there from the get-go. He's going to struggle, as all rookies do, but we have confidence he's going to go on and become a very good player." |