With less than 3 weeks remaining to the March 8 deadline at which the Colts have to decide whether or not to pay Peyton Manning the $28 million payment that is due under his current contract, it appears that both sides are engaged in some serious discussions.
Irsay said this week that he and Manning talk frequently, although apparently it’s not always just focused on contract negotiations. “We talk a lot … and it’s probably not always what people think we might talk about,” Irsay said yesterday. “Very recently we got into a debate about – will Tiger Woods win more majors than Jack Nicklaus or not?”
Despite Irsay’s efforts to paint the relationship as very positive and collegial, there is a huge gap that must be bridged. Irsay said earlier this week that the Colts would love to have Manning back, but that it must be under a deal that reflects the uncertainty related to Manning’s recovery and when he will be able to play again.
Manning has had 4 neck surgeries in the last two years, and missed all of last season as a result of the injuries. He has been rehabbing all season, and it was reported in the last few weeks that his doctors have cleared him to play, but the Colts are uncomfortable about when and at what level he could play.
Obviously, it’s not in Manning’s interest to just give the Colts a pass on the $28 million, but he will have to consider what his free market value will be at this point. If he is healthy and able to play anywhere near his previous level, he is as valuable as any player in the league. The plummet of the Colts last season without him as only served to further demonstrate the high level of value that he brings to the team. Dropping from a perennial playoff team to a 2-14 season has to have a lot of teams wondering what he could do with a team that with a solid supporting cast.
While Manning would be valuable to any team, he has more value to the Colts with his popularity and what he has meant to the franchise and the community, but it will come down to Irsay’s perception of that value and his attitude about moving forward with a rookie quarterback, versus what Manning thinks the free market is worth and how strongly he wants to remain in Indianapolis. Manning has always said that he preferred to spend his entire career with the Colts.
“We both know everyone has great interest on it. We’ll just keep talking. And certainly by that date we’ll come up with something that makes sense for him and for the Colts,” Irsay said. “I think we both understand each other’s issues. [We’re] not delaying it for any intentional reason. It’s not only a big decision, but it’s a complicated and tough decision.”
Sadly, it will all come down to dollars and cents. While both Manning and Irsay would prefer to have Peyton remain with the Colts, the financial questions are going to drive the day.
“[Peyton] and I will continue to always be great friends, and I hope it’s with him still being in a Colt uniform,” Irsay said. “But we’ll see.”
