 |
 |
 |
|
INDIANAPOLIS -- Peyton Manning's contract with the Indianapolis Colts could be worth as much as $48 million or as
little as $14.5 million depending on incentives outlined in the six-year deal, according to Street & Smith's SportsBusiness Journal
magazine published Monday.
Peyton Manning will have to perform well to really cash in on his first contract.
Manning, the No. 1 pick in this year's draft, became the richest rookie in NFL history when he signed with the Colts on July 29. The quarterback's contract included an $11.6 million signing bonus, but the SportsBusiness Journal reported he likely would not see much more than his base salary through 2003 if he flops. The magazine said it had obtained a copy of the contract, and the bulk of Manning's paycheck will depend on how well he performs. To trigger certain escalator clauses that would enable him to earn the maximum under his contract, the magazine said, he would have to achieve at least one of the following during any year of his contract:
He could receive additional bonuses up to $1.5 million depending on how far the Colts advance in the playoffs. If Manning qualifies for the escalators in the first year of the contract and achieves all of the performance incentives, his salary would rise from $944,000 this year to $9.5 million in 2003, for a total of $47.74 million -- including the original signing bonus and another $8.4 million bonus for re-signing in 2001, the publication said. No. 2 draft pick Ryan Leaf received a bonus of $11.25 million as part of a $31.25 million, five-year contract with San Diego. |