LOS ANGELES: Five-time NFL Most Valuable Player Peyton Manning will return for an 18th NFL season and has agreed to a $4 million paycut with the Denver Broncos, US media reported on Wednesday (Thursday in Manila).
The Denver Post and ESPN reported that Manning’s pay would be cut from $19 million to $15 million.
NFL.com reported Manning will still be able to earn the $4 million back in performance incentives.
The Broncos are expected to make an official announcement of the deal on Thursday, once the 38-year-old Manning passes a medical exam.
Manning is entering the fourth season of a five-year, $95 million contract he signed with the Broncos in March of 2012. Manning has started every game during his tenure with the club and led Denver to the American Football Conference title in 2013.
Manning finished second in the NFL with 39 touchdown passes this past season after throwing for a league-record 55 in 2013.
His struggles late in the season and the Broncos’ plans to make changes on offense under new head coach Gary Kubiak led to speculation that Manning would consider not returning.
If he does indeed return, he needs only 2,148 yards to break the all-time NFL career passing yardage mark owned by former Green Bay Packers star Brett Favre.