Blog Entry

Report: Eli reworks contract, saves Giants $6.75M

Posted on: March 8, 2012 3:08 pm
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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: Jan 17, 2012
Posted on: March 9, 2012 7:25 am
 

Report: Eli reworks contract, saves Giants $6.75M

I can remember a while ago, befor Eli's first Superbowl, saying to two friends of mine that Eli is pretty good but I "just don't think the Giants will ever win a superbowl with him at QB." Then, that very season, they won one. The kid is under-rated. Both he and his brother "get it". As far as taking the 9 million up front, 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. Yes he gets the same amount, but NY is going to get theirs... trust me. Between the billions in lottery money New York gets, the extreme taxes NY is... still somehow hurting for money... Thanks Eli! Ya know, for helping us all out.



Since: Aug 12, 2011
Posted on: March 9, 2012 4:29 am
 

Report: Eli reworks contract, saves Giants $6.75M

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.



Since: Aug 11, 2006
Posted on: March 9, 2012 12:57 am
 

Report: Eli reworks contract, saves Giants $6.75M

I am glad that Eli is the QB of the Giants, very happy with him.  However, when we hear these guys take a pay cut, it makes me laugh.  Typically they lower their salary for more up front money (bonus) that can be prorated across other years.  Yes it's less salary but more money.

Funny how the signing bonuses work.



Since: Jan 15, 2007
Posted on: March 8, 2012 11:24 pm
 

Report: Eli reworks contract, saves Giants $6.75M

I don't get that crap. Why doesn't every team with cap issues do that? Uhhm, ok I am going to make your salary 10 dollars but here is your Christmas bonus early, of 10 million dollars....



Since: Aug 25, 2006
Posted on: March 8, 2012 11:00 pm
 

Report: Eli reworks contract, saves Giants $6.75M

Good job Eli.  Saints fans can brag on Brees all they want but he did not even try to keep his team together.



Since: Feb 22, 2010
Posted on: March 8, 2012 10:49 pm
 

Report: Eli reworks contract, saves Giants $6.75M

what a WIN WIN situation.  9 million cold cash in my pocket now to save some money for others.....wow.  Who wouldn't want to take 90% of their salary, upfront and in a lump sum, at the beginning of the year rather than toiling week after week with no guarantess.....like the rest of us 99%.  Hats off to the 1%, they really got their act together.  One for all and all for the 1%.



Since: Dec 1, 2009
Posted on: March 8, 2012 9:46 pm
 

Report: Eli reworks contract, saves Giants $6.75M

maise_blue, you're confused, son. A player doesn't owe anybody but himself and his God anything until he signs a contract. Nothing. Now, I get that San Diegans were disappointed that he spurned their Chargers, but he owed them nothing. It's his life, not theirs, nor yours or mine. His obligations began when he signed, with whom he signed. He didn't whine then, nor did he cry or mope. He simply said "Hell no, I won't go." As any FREE MAN might have done. He took your scorn and thrived. Pity you've not gotten over it yet. Tell me, do you still stalk the girls who rejected you in high school?



Since: Sep 14, 2006
Posted on: March 8, 2012 9:44 pm
 

Report: Eli reworks contract, saves Giants $6.75M

Just enough cap space to sign...Peyton Manning.  Tongue out



Since: Sep 11, 2006
Posted on: March 8, 2012 9:36 pm
 

Report: Eli reworks contract, saves Giants $6.75M

I love the comment about how Eli can't change the past regarding the Chargers. Seems like you can't forget the past dude. That was how many years and 2 Super Bowls ago? Time to get over it.



Since: Dec 1, 2009
Posted on: March 8, 2012 9:33 pm
 

Report: Eli reworks contract, saves Giants $6.75M

JJwins, I applaud your ready defense of Eli, but maybe it would be better if you were to refrain from calling Tom Brady "CryBrady" until AFTER you rip down that Knicks logo beneath your screen name. Maybe Danny Ainge cried more than Patrick Ewing did, but that's awfully faint praise, because no one else did.


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