Play Fantasy Use your Fantasy skills to win Cash Prizes. Join or start a league today. Play Now
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.

Latest NFL News, Notes

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.

For more NFL news, rumors and analysis, follow @EyeOnNFL on Twitter, Like Us on Facebook, subscribe to our NFL newsletter, and while you're add it, add our RSS Feed.
Comments

Since: Jun 28, 2010
Posted on: March 6, 2012 12:52 pm
 

Report: Colts have until 4pm Friday to cut Peyton

WOW.... Are you crazy?

Most of what you just said is non sense!

First of all Manning changed the face of the QB position... He was and is the ONLY on field OC... and now you see every QB with the chance to run his team properly on the field....Manning SET THE BAR when it comes to new school QB.

Second maybe it WAS his teamates he supposedly threw under the bus that wilted under the pressure... Up until all this BS Manning set the bar on class and professionalism as well. 

Third... The first african american coach to win the superbowl? I'd say he deserves his due... Not to mention his continued professionalism and class is why he was considered a top tier Head Coach... He is a leader of men. 

 



Since: Apr 6, 2011
Posted on: March 6, 2012 12:32 pm
 

Report: Colts have until 4pm Friday to cut Peyton

Also, regarding P.Mannings' 4 MVPs: There is NO WAY IN H*LL P.Manning should have EVER beat out RB C.Johnson for the MVP in '09. EVER! When a RB runs for 2,000 yds (ESPECIALLY in this era) it should be an automatic MVP season. C.Johnsons' 2009 campaign was one of the great seasons of all time for a RB. In my opinion, for a QB to beat out a 2,000 yd rusher for MVP, their team had better A: Go 16-0 in the regular season. And B: Said QB had better crush EVERY regular season passing mark previously set.




It's been almost 5 years since that travesty occured, and I'm still shaking my head over that MVP desicion.    




Since: Apr 6, 2011
Posted on: March 6, 2012 12:21 pm
 

Report: Colts have until 4pm Friday to cut Peyton

I am 100% in agreement with all posters on this thread regarding P.Mannings' inexcusablely LOW number of rings in relation to his hype. Statistically, he's approaching D.Marino-like status amongst the all time greats. Thats pretty darn elite if you ask me. Having said that, when he was staring down the barrell of BIG GAME pressure, he repeatedly wilted like a dried out carnation. Alot of times, he threw his teammates under the bus while doing so. So I'm not sure how much of a "5 star General" he was out there on the field. Thats what seperates the LEGENDS of the QB ranks from the pretenders: No. of rings AND the ability to lead their team to glory when the chips are all-in. P.Manning falls VERY short in the leadership category.

Also, how many times did the Colts enjoy the No.1 or No.2 seed during the Manning era? Let's factor that into the equation as well.

While we're at it, let's question why T.Dungy was ever considered a top level HC. Has a Head Coach EVER accomplished less with more?



Since: Dec 22, 2011
Posted on: March 6, 2012 11:54 am
 

Report: Colts have until 4pm Friday to cut Peyton

@Eichler  With what Manning gets paid, I'm not sure a team could pay for a Defense that he would need to get 5 rings.  Maybe a couple rings if he was lucky. Its hard to pay a team that has a great QB, a good offensive line,  and a good defense and be able to win more than 1 Super Bowl these days. Free agency took care of that! Peyton is one of the top 5 best ever!



Since: Oct 20, 2009
Posted on: March 6, 2012 11:53 am
 

Report: Colts have until 4pm Friday to cut Peyton

Had Peyton been on a team with a defense, he'd likely have 5 rings by now

He played behind the top ranked defense in 2007 & lost to the Chargers! He's played behind several top 10 ranked defenses and excellent scoring defenses & still lost. He's a great QB but doesn't play his best in big games!



Since: Jan 2, 2007
Posted on: March 6, 2012 11:46 am
 

Report: Colts have until 4pm Friday to cut Peyton

The Colts hired a DEFENSIVE minded coach AND DO NOT have an offensive coordinator... Why you idiotic reporters cannot read between the lines blows my mind.
Just as it amazes me the number of people that spout off without doing their homework.  The Indianapolis Colts hired Bruce Arians (former Pittsburgh OC) on February 1st.  The team does have a coordinator and somebody who did a pretty good job working with a young quarterback -- look at the job he did with Roethlisberger.  I fully expect Peyton gone by Friday afternoon and the bidding to begin in earnest that afternoon.  Andrew Luck is being delivered to Arians with the expectation he does for him what he did for Roethlisberger.  Bank on it.



Since: Jan 19, 2009
Posted on: March 6, 2012 11:45 am
 

Report: Colts have until 4pm Friday to cut Peyton

listen eichler34 there is some merit to what you say, but watching this guy for 14 yrs or so watching how prolific how astute he is I also watched how small he came up in big spots in the playoffs against the steelers the patriots the saints. This isnt the pre 70s nfl where you won your division and it was off to the championship game  These players have many chances to make the playoffs/championship  and were in positions to win with him at the helm he didnt do it. This becomes pronounced when you see guys like Roethlisberger and Manning jr do it. Now roethlisberger had a horrible first SB but he came up big in playoff games remember the bettis fumble at the goaline and he made the tackle that saved the game?  manning wouldnt come within a 100yds of the indiviual.  his brother is cool calm and collected under pressure.  which is the last thing, manning had a SUPERIOR OFFENSIVE LINE which alllowed him to stay back there review the playbook direct players around the field and then throw it.  Manning was a great QB, to me he's not AN ALL TIME GREAT  but he was very good.  his numbers mean nothing the back up qb on the seahawks throws for 3000yds and 25 tds these days.  he has won 4 mvps but its so much a passing league now and hes the best reg season passer so he wins the mvp alot.  Go back to pre 95 see how many QBs won the MVP many but RBS and Defensive players won it too.  BTW Im not a giant steeler patriot or saint fan.



Since: Dec 27, 2006
Posted on: March 6, 2012 11:44 am
 

Report: Colts have until 4pm Friday to cut Peyton

Maybe they could just divide the $28 million among the season ticket holders! 



Since: Jan 9, 2007
Posted on: March 6, 2012 11:41 am
 

Report: Colts have until 4pm Friday to cut Peyton

Either way, if they keep him or not by friday. I will still go out fro drinks for happy hour after work. I will stilll eat a turkey sandwhihc for lunch. And my bills will still be due on monday. Who CARES!?



Since: Dec 7, 2011
Posted on: March 6, 2012 11:24 am
 

Report: Colts have until 4pm Friday to cut Peyton

i cannot see any businessman paying 28 mil for someone that may not be able to play. what will that first hit do to peyton?


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