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Manning restructures contract to save Colts cap room

Updated: February 21, 2007, 5:39 PM ET
ESPN.com news services

INDIANAPOLIS -- Peyton Manning has agreed to restructure his contract with the Indianapolis Colts to save the team $8.2 million in salary cap space.

The deal was first reported by ESPN.com's John Clayton.

The Super Bowl MVP was to receive a $10 million roster bonus during the offseason but by converting the money into a regular signing bonus, the Colts can prorate that amount over the remaining four years of his deal. That saves Indianapolis space under the cap, which is $109 ...

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