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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: Dec 1, 2009
Posted on: March 8, 2012 9:27 pm
 

Report: Eli reworks contract, saves Giants $6.75M

gmennotegirls: I've gotta ask about that screen name, guy. :)

Rather, guess/ask. Would "egirls" be computer porn featuring the fairer sex and "gmen" Agent Mulder and his colleagues? You've maybe got a thing for dark suits, white broadcloth, and shiny black wingtips, with tasteful rep ties? Or just the star of "Californification"? :)



Since: Dec 1, 2009
Posted on: March 8, 2012 9:20 pm
 

Report: Eli reworks contract, saves Giants $6.75M

gmennotegirls, yes and not necessarily so. The income from the new TV contracts will balloon the cap beginning with the 2014 season, so they need only bridge the two-year gap. At this point, no need to attend to 2013, as someone's bound to hang them up in the meanwhile, or deserve to be cut.



Since: Jul 30, 2008
Posted on: March 8, 2012 9:16 pm
 

Report: Eli reworks contract, saves Giants $6.75M

I love Eli, but I'm confused on why people are posting praises of Eli for doing this. Eli isn't taking less money. In fact he is getting paid the same exact amount of money this year but receiving the majority of it up front in the form of a signing bonus. Hopefully it will prove to be a good move by Reese. More salary space this year usually just means delaying the salary cap headache until future years.



Since: Dec 1, 2009
Posted on: March 8, 2012 9:16 pm
 

Report: Eli reworks contract, saves Giants $6.75M

balrog01, you wrote this: "just 5% annual interest". Come again, Rip van Winkle?! Sign me up for some of that there imaginary "interest" stuff! 5%!! Do you borrow money at the Bank of Tony the Leg-Breaker, perhaps? And how did Eli get in on their action? Is he secretly Sicilian?

And twice you make this point?! She-eesh, man, you have no shame.



Since: May 21, 2009
Posted on: March 8, 2012 9:10 pm
 

Report: Eli reworks contract, saves Giants $6.75M

Directly from the Story:
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.)
You people talking about "what a saint he is" for doing this either have no reading comprehension, or lack the faculties to join the discussion. He might be a great guy, but that has NOTHING to do with him restructuring the deal. Google "Time Value of Money". They are paying him the same amount of money. Look at the numbers 9+1.75=10.75. Only a complete fool wouldn't want the money up front instead of spread out over the year. As I said, he may be a great guy, but it has nothing to do with this deal. Roethlisberger just re-did his deal a couple weeks ago. By you people's logic, Ben is a better man than Eli because he did it first.



Since: Apr 29, 2007
Posted on: March 8, 2012 9:08 pm
 

Report: Eli reworks contract, saves Giants $6.75M

Eli's been hitting all the right notes this offseason.  It's really impressive, winning his 2nd Super Bowl doesn't hurt things either.  I think we owe Eli one. So, if he gets caught w/ a hooker or biows $1 million on roulette I'm happy to look the other way.  Just once or twice though.  Eli should be allowed to use his own judgement for the free pass, he's shown he can handle it.



Since: Dec 1, 2009
Posted on: March 8, 2012 9:01 pm
 

Report: Eli reworks contract, saves Giants $6.75M

MediaSux, I must have missed the interviews and press conferences in which Brees "whined," as the poster whom you complimented for it said. Even his lawyer hasn't been quoted saying any such thing, as far as I know. He was reported to be miffed because that jerk of a GM, Loomis, ran around bad-mouthing Drew to his colleagues. I suppose that you would have just showed your belly to the old ingrate. As for not wanting to be franchised, there's not a guy in the NFL who wants that tag placed on him, nor would you. Now, to your last: football " is a kid's game," you wrote. Not hardly, dumbwit. As Gordie Howe famously said about his chosen sport, "Hockey is a man's game." And so's football. If you believe otherwise, then you're either from someplace where they think that running around in short pants is a 'sport' instead of play, or you're incredibly obtuse. Perhaps you've missed the news for the last however many years? Players die from the blows sustained during their playing days. Many before they're even 60. Some in their 40's. A few in their 30's.

If football is a kid's game, then so is being deck officer on the catapult of an aircraft carrier. FYI, a lot of them die young, too. Even if they never sniff a combat zone or even a war theater.

"Sarcasm," you said. So's this: Go play with dogs in traffic. :)



Since: Nov 30, 2010
Posted on: March 8, 2012 8:48 pm
 

Report: Eli reworks contract, saves Giants $6.75M

Eli is the man.



Since: Aug 20, 2007
Posted on: March 8, 2012 8:46 pm
 

Report: Eli reworks contract, saves Giants $6.75M

nice job eli....helping out the team with a salary move that will increase salary cap space.
time to make another run at the Superbowl!



Since: Oct 17, 2009
Posted on: March 8, 2012 8:27 pm
This comment has been removed.

Post Deleted by Administrator



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