Denver Broncos Rumors: Team Working On New Contract For Peyton Manning, But May Part Ways With Him

Denver Broncos Rumors: Team Working On New Contract For Peyton Manning, May Cut Him If Deal Can’t Be Reached

The Denver Broncos are rumored to be working on a deal to re-structure Peyton Manning’s contract to give the team more cushion in cap space, but there is still a chance that the two could part ways if an agreement isn’t reached.

This week, a source close to the team said that Manning’s agent has been working with the Broncos on a new deal. He is set to make $19 million in each of the next two years, with a cap hit of $21.2 million next year. For John Elway and the Broncos, that number is too high, the sources say.

The Broncos will have other pressing needs. The team is likely to lose both Wes Welker and Julius Thomas in free agency, leaving a hole in the offense that would take more money to fill.

As Arnie Stapleton of the Globe and Mail pointed out, the Broncos are already tight on cap space.

“The Broncos figure to have about $27-million to work with under the projected $148-million salary cap in 2015, but a franchise tag for star receiver Demaryius Thomas next week would eat up about half of that figure. Placing the franchise tag on Thomas would buy them some time to negotiate a long-term deal. They did that with kicker Matt Prater and blindside protector Ryan Clady.”

But if negotiations don’t go well, there are rumors that the Denver Broncos could move on from Peyton Manning. The All Pro quarterback has a physical coming up on March 5, and if the team is ready to go in a new direction, they may use that as an excuse to let him go, noted Bleacher Report’s‘ Jason Cole.

“At this point in his career, the Broncos could fail Peyton Manning for any reason, including the four neck surgeries that he has already had,” he said Tuesday in a video on Bleacher Report. “In talking to sources close to the team, there’s a big question here about whether the Broncos want to bring him back for one more year. They’re going to have to feel very comfortable about this.”

If the rumors of Peyton Manning and the Denver Broncos parting ways come true, it appears it won’t be the quarterback’s doing. After spending several weeks this offseason determining if he wanted to play another year, he reportedly let the team know that he’s ready to play again in 2015.

[Image via Getty/Justin Edmonds]