Blog Entry

Report: Colts have until 4pm Friday to cut Peyton

Posted on: March 6, 2012 10:43 am
Edited on: March 6, 2012 3:21 pm
We get a free 24 hours of Peyton drama! (Getty Images)
By Will Brinson

Thursday, March 8 has been pegged on the calendar as "Peyton Manning Day" for quite some time. That's when the Colts must make a decision on whether or not to pick up Manning's $28 million option bonus and activate the rest of his contract. But not so fast, my friends: the Colts can actually keep Manning on the roster as late as Friday at 4 p.m. ET without paying him any money.

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That's according to a report from Jason LaCanfora of the NFL Network, who writes that while Thursday is the deadline for Manning's option bonus, Sunday -- two days before the beginning of the new league year -- is the "non-exercise payment date" on Manning's contract.

However, there's one more wrinkle. Mike Florio of Pro Football Talk correctly points out, and has since confirmed via NFL spokesman Greg Aiello, that NFL business must be transacted by 4 p.m. ET on Friday.

Therefore, if the Colts don't pick up Manning's option bonus on Thursday but also don't cut Manning before 4 p.m. ET on Friday, they'll owe him $28 million as a result of the non-exercise fee. However, if the Colts don't exercise his option, as Florio points out, he will still be under contract for the 2012 season until they decide to cut him.

The failure to pay the option bonus, per Florio, will simply wipe out the 2013-2015 portions of Peyton's contract. (Ed. Note: This is an update from what we previously had here.)

So what would be the point of keeping Manning past Thursday? Well, Jim Irsay could ultimately decide that he does want to pay Manning $28 million to play for the Colts -- or, more accurately, not play somewhere else -- in 2012. The Colts could would not be able, however, to cut him past Friday at 4 p.m. ET without paying him the $28 million and sending him on his way.

The Colts could also decide to wait until Friday to engage in talks with Manning on a renegotiated contract. But if no deal is reached and the Colts decide to cut Manning after the 4 p.m. ET deadline on Friday, then Manning would get $28 million for the non-exercise fee and would become a free agent.

Which is why it makes more sense, if the Colts are truly prepared to move on without Manning, to do so at an earlier time than on 3:59:59 p.m. ET on Friday.

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Since: Jul 5, 2008
Posted on: March 6, 2012 6:25 pm

Report: Colts have until 4pm Friday to cut Peyton

This is going to go down to wire and its going to be a but wrencher of a decision to make.  One hand says you got to cut him because he has not proven that he will be heathy enough to play.  The other hand says he is an Idianoplis ICON and one of the best qb's to ever play them game.  I do not see them renogotiating anything.  If Peyton says he can play and the Qwner doesn't think so, it would be questioning Peyton and I dont think he would enjoy that.

If he cannot play...then re-do the contract for possibly next year...if Peyton will allow it!  If not, cut him loose and let him fend for himself.  If he does get cut...I am wondering who he will go to...the Redskins, Seahawks, or the Dolphins.  Each can make strong cases for his services if he is healthy. 

As of now...its a flip of the coin and could go either way.  Hoping he flees and make free agency more interesting.  Most of all, I am hoping he is close to being healthy and can entertain us in the future!  A true class entertainer!

Since: Oct 11, 2009
Posted on: March 6, 2012 6:05 pm

Report: Colts have until 4pm Friday to cut Peyton

manning isn't even close to tom brady. in fact, i would rate drew brees & kurt warner higher than peyton all-time.

There are three simple facts that are behind the endless articles and overhype surrounding this story: (1) Manning is NFL royalty. He has one ring, his bro has two rings and his pop played in the league as a good QB for many years (2) He has 4 MVP awards (3) the Colts projected #1 overall pick Andrew Luck is and has been considered the most NFL ready QB, or NFL ready player period, in over 20 years.  As for Irsay's decision, its pretty obvious...he won't pay the soon to be 36 yr old Peyton $28 million when he cleaned house of coach and GM. 

Since: May 6, 2011
Posted on: March 6, 2012 6:04 pm

Report: Colts have until 4pm Friday to cut Peyton


Since: Jan 16, 2008
Posted on: March 6, 2012 4:53 pm

Report: Colts have until 4pm Friday to cut Peyton

Drew Brees is WAYYY better than Payton

Since: Dec 22, 2011
Posted on: March 6, 2012 4:47 pm

Report: Colts have until 4pm Friday to cut Peyton

El Conquistador  I agree with most everthing you have said. Not about Manning being over rated.  Drew Brees better than Manning? Hmmmm... I cant argue about the other Qb's since I think your going by Super Bowl wins.  

Since: Aug 26, 2007
Posted on: March 6, 2012 4:33 pm

Report: Colts have until 4pm Friday to cut Peyton


While I can see your point about Peyton playing the blame game, you have no clue what you are talking about when it comes to his stats.  Why are they overhyped?  Were defenses running away from Colts receivers so Peyton could up his stats?  Those are REAL stats no matter what negative adjective you use to describe them.  Crappy crunch time? Seriously?  The number one reason I even like watching the Colts play because you knew that if the opposing team wasn't 2+ TDs ahead, that there was almost a certainty of them coming back and winning in the back half of the game.  You did hear hear about or see the game against those Pats you love so much where he lead the team to a victory with 3 minutes left and down 17 points?  Ya. Crappy crunch time right?  And the cherry on the Sunday - Your horrible whining about 1 ring after 13 years and then turn around and say Brees is better.  Count how many rings Brees has.  Brady is an elite quarterback - there's no questioning that.  But don't give me a retarded response that I've heard a million  times before about how much better he is because of the number of rings.  Anyone who thinks the quarterback is the only factor in winning a game should stick to watching golf where only 1 person is responsible for their outcome.  The Pats had incredible defense thery years they one.  In fact, I was laughing watching the SB this year.  Did watching Brady lose not remind you of the Colts going into the playoffs?

Think before you speak man.  Don't just be an ignorant hater.

Since: Nov 21, 2008
Posted on: March 6, 2012 4:27 pm

Report: Colts have until 4pm Friday to cut Peyton

Why is there no consideration that the Colts and Manning might be using this time to re-negotiate his deal?  Isn't it possible this is happening without NFL "insiders" knowing about it?

Since: Dec 12, 2010
Posted on: March 6, 2012 4:22 pm

Report: Colts have until 4pm Friday to cut Peyton

Tick tock...what to do ,what to do, what to do.

Since: Jan 6, 2012
Posted on: March 6, 2012 4:15 pm

Report: Colts have until 4pm Friday to cut Peyton

Do you see those 2 kids in the window behind #18. Those are CBS Sports pro football insider sources. They've finally been identified! By the level of writing and speculation I read on CBS, that has to be true. CBS = Crummy Blind Speculation

Since: Jan 14, 2007
Posted on: March 6, 2012 4:10 pm

Report: Colts have until 4pm Friday to cut Peyton

trojan is making some good points. manning is over rated. a lot of over hyped regular season stats & crappy in crunch time. just like he was in college. he's lucky he drew rex grossman in the SB to even get 1 ring. when he threw that pick 6 vs. the n.o. saints, it was reggie waynes fault. when he got beat by S.D. & N.E. in the playoffs, it was his O-line's fault. the entire franchise was dedicated to manning the last 13 years. 1 ring? hell, ben rothleisfurburger & eli did better than that. manning isn't even close to tom brady. in fact, i would rate drew brees & kurt warner higher than peyton all-time.

irsay is going to cut manning, and we'll see what ol' happy feet can do down in miami. maybe they can teach him the salsa?

The views expressed in this blog are solely those of the author and do not reflect the views of CBS Sports or