Report: Manning, Broncos Agree to 5-year, $96M Deal

by | March 20, 2012 at 10:17 AM | NFL

So much for ‘Tebowmania.’ Peyton Manning’s deal with the Denver Broncos is done, and at nearly 36, the four-time MVP is looking at a healthy payday.

ESPN reported that Manning and Denver have agreed to a five-year contract worth $96 million. There is no immediate word on the exact amount of the QB’s guaranteed money.

From ESPN:

“The Denver Broncos and Petyon Manning reached agreement on a five-year, $96 million contract on Tuesday, a league source told ESPN NFL Insider Adam Schefter.

“Manning will be introduced as the Broncos’ new starting quarterback at a 3 p.m. ET news conference.

“The Broncos now will attempt to trade quarterback Tim Tebow, sources told ESPN senior NFL analyst Chris Mortenesen and Schefter.

This is a breaking news update. Check back frequently as more details on Manning’s deal become official.