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Blog Entry

Report: Eli reworks contract, saves Giants $6.75M

Posted on: March 8, 2012 3:08 pm
 
Eli's restructured his deal to help the Giants make another run. (Getty Images)
By Will Brinson

We've spent most of the past week talking about Peyton Manning, but his little brother Eli Manning -- you know, the one who just won a Super Bowl -- deserves some love too. Especially since he just reportedly restructured his contract to save the Giants some room under the salary cap.

According to Paul Schwartz of the New York Post, Eli made changes to his contract that will get him more money immediately and lower his salary for 2012.

Originally, Manning stood to make $10.75 million in 2012. Under the new restructured terms, his salary will be just $1.75 million, though he pockets $9 million right now. (Decent payday, and well worth the money.)

That means the Giants will receive $6.75 million in cap relief for 2012. Manning's contract for 2013, 2014 and 2015 remains unchanged: he'll still make $13 million, $15.15 million and $17.5 million, respectively.

It's a wise move for both sides. Manning gets a big cash payment, the Giants get more room (they were one of the more salary-soaked teams in the NFL) and Eli allows the Giants to try and keep valuable pieces around him, as they look to re-load and make another run at a title.

Here's an interesting additional twist, courtesy of Mike Florio of Pro Football Talk: because Peyton and Eli are now making significantly less than they were a week ago for 2012, recently-franchised Saints quarterback Drew Brees could see his franchise-tag value take a serious dip. Obviously that could change depending on how much Peyton signs for whenever he signs, but for now, it's just another reason for Brees to be less than thrilled.

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Comments

Since: Sep 11, 2006
Posted on: May 19, 2012 9:36 pm
 

I offered my boss the same deal

"Boss," I said, "Pay me 90% of my next year's salary in cash now and then reduce my salary next year."


He chose a different option.  He reduced my current salary to zero, effectively immediately.  




Since: Sep 11, 2006
Posted on: March 9, 2012 9:35 pm
 

Report: Eli reworks contract, saves Giants $6.75M

I read the first two sentences of the article you linked to, and stopped when I saw the word "hater". Just can't take anyone who uses that word seriously. Sorry.



Since: Mar 3, 2012
Posted on: March 9, 2012 6:24 pm
 

Report: Eli reworks contract, saves Giants $6.75M

http://markrfox.hubpages.com/hub/On

e-Look-at-Tom-Brady-Will-Show-You-W

hy-Eli-Manning-is-Not-a-Hall-of-Fam

e-Player
Take one look at Tom Brady and you will see why Eli Manning IS NOT A HOF player. This was a great article I read. Copy and paste the link and you will get to read a perfect example of why Eli is not HOF worthy yet. Hope you enjoy reading it as much as I did!




Since: Mar 20, 2009
Posted on: March 9, 2012 3:01 pm
 

Report: Eli reworks contract, saves Giants $6.75M

Eli lives in Hoboken, NJ and he works in NJ unless he is playing against the Buffalo Bills in their stadium.  But fear not, NJ has some pretty wicked personal income taxes and their real estate taxes are close to being the worst in the nation.



Since: Dec 17, 2011
Posted on: March 9, 2012 1:10 pm
 

Report: Eli reworks contract, saves Giants $6.75M

Why are people worried about Eli's taxes? Yes, NY takes a ton of taxes - that's true, but Eli is no dope. He is golden now with all of the endorsements he is making and I can guarantee you that he has a number of pre tax invsetments set up, so don't worry about Eli. He will be just fine and so will be the Giants.



Since: Jan 17, 2012
Posted on: March 9, 2012 9:49 am
 

Report: Eli reworks contract, saves Giants $6.75M

Damn, I had assumed he lived in NY after a buddy of mine saw him and spoke to him when Eli was in Manhatten with his wife and kid(s). Heh. From what he said it seemed like they were out for a walk which led me to believe they lived there. Oh well.



Since: Sep 14, 2006
Posted on: March 9, 2012 9:18 am
 

Report: Eli reworks contract, saves Giants $6.75M

he lives in New York. Taxes are going to KILL him. NY is the worst state to live in bar none as far as taxes are concerned...


you obviously never heard of nj taxes



Since: Oct 19, 2007
Posted on: March 9, 2012 9:06 am
 

Report: Eli reworks contract, saves Giants $6.75M

What some people don't understand is how the taxes work on "bonus" money. My bonus is taxed at 40%, so Eli is going to see a lot less than $9 million, but I am sure he isn't hurting for money these days. Money mouth



Since: Nov 28, 2006
Posted on: March 9, 2012 8:26 am
 

Report: Eli reworks contract, saves Giants $6.75M

News Flash, Eli lives in New JerseyCool



Since: Jan 18, 2012
Posted on: March 9, 2012 7:29 am
 

Report: Eli reworks contract, saves Giants $6.75M

Cong said


There is one thing that Eli has which every non-elite QB is still striving towards.  And no, I am not talking about Rings.  Eli has a complete understanding of every play which his team calls.  Be it run, play action, quick hit, or deep bomb; Eli knows exactly what each and every player should be doing on every play.  He is human which means he sometimes doesn't make the perfect throw or best decision, but  his understanding of the game far surpasses that of even an above-average QB.  The restructured contract truely means nothing other than spreading out his current cap figure over the next few years.  The GMen want to continue winning now and dont mind sacrificing minor cap hits as the cap expands over the next few years to do so. 



Got to agree with you 100%

If I may add that I have been impressed with Eli as a person
since I saw him at his first camp with the Giants. While big stars like Barber,
Shockey, Straham all left the field and skipped the rope line and slid into the
club house through the back door Eli went up through the rope line and signed autographs.

His parents have done a great job in raising their
children.  Not only are they great
players but they are more importantly great human beings.


 


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