Blog Entry

Report: Colts have until 4pm Friday to cut Peyton

Posted on: March 6, 2012 10:43 am
Edited on: March 6, 2012 3:21 pm
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By Will Brinson

Thursday, March 8 has been pegged on the calendar as "Peyton Manning Day" for quite some time. That's when the Colts must make a decision on whether or not to pick up Manning's $28 million option bonus and activate the rest of his contract. But not so fast, my friends: the Colts can actually keep Manning on the roster as late as Friday at 4 p.m. ET without paying him any money.

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That's according to a report from Jason LaCanfora of the NFL Network, who writes that while Thursday is the deadline for Manning's option bonus, Sunday -- two days before the beginning of the new league year -- is the "non-exercise payment date" on Manning's contract.

However, there's one more wrinkle. Mike Florio of Pro Football Talk correctly points out, and has since confirmed via NFL spokesman Greg Aiello, that NFL business must be transacted by 4 p.m. ET on Friday.

Therefore, if the Colts don't pick up Manning's option bonus on Thursday but also don't cut Manning before 4 p.m. ET on Friday, they'll owe him $28 million as a result of the non-exercise fee. However, if the Colts don't exercise his option, as Florio points out, he will still be under contract for the 2012 season until they decide to cut him.

The failure to pay the option bonus, per Florio, will simply wipe out the 2013-2015 portions of Peyton's contract. (Ed. Note: This is an update from what we previously had here.)

So what would be the point of keeping Manning past Thursday? Well, Jim Irsay could ultimately decide that he does want to pay Manning $28 million to play for the Colts -- or, more accurately, not play somewhere else -- in 2012. The Colts could would not be able, however, to cut him past Friday at 4 p.m. ET without paying him the $28 million and sending him on his way.

The Colts could also decide to wait until Friday to engage in talks with Manning on a renegotiated contract. But if no deal is reached and the Colts decide to cut Manning after the 4 p.m. ET deadline on Friday, then Manning would get $28 million for the non-exercise fee and would become a free agent.

Which is why it makes more sense, if the Colts are truly prepared to move on without Manning, to do so at an earlier time than on 3:59:59 p.m. ET on Friday.

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Since: Jul 5, 2010
Posted on: March 6, 2012 11:16 am

Report: Colts have until 4pm Friday to cut Peyton

Is it possible to wring another day out of this?

Since: Feb 16, 2007
Posted on: March 6, 2012 11:11 am

Report: Colts have until 4pm Friday to cut Peyton

Manning has spent his entire career playing for a team that has charmin-soft defense, and the one time they won the Superbowl was the same season the team set a record for most rushing yards allowed, yet somehow for the playoffs only they managed to overperform and stifle the oppositions offense.  Had Peyton been on a team with a defense, he'd likely have 5 rings by now, let him go to a team that has a defense, and a good offensive line so he can tie Brady's 3 rings and remove any doubt as to who the real best QB ever is.  Superior career stats plus an equal amount of rings = better player. 

Since: Oct 25, 2011
Posted on: March 6, 2012 11:08 am

Report: Colts have until 4pm Friday to cut Peyton

Something will happen Sunday

Since: Oct 21, 2006
Posted on: March 6, 2012 11:07 am

Report: Colts have until 4pm Friday to cut Peyton

The Colts hired a DEFENSIVE minded coach AND DO NOT have an offensive coordinator. 


Why you idiotic reporters cannot read between the lines blows my mind.  It doesnt surprise me that none of you can use your brains if you could you wouldnt be a "journalist," but seriously you folks have been saying for some time now the Colts were finished with Manning and he was gonna be cut for sure HOWEVER now he may not be?  Sheesh you people never cease to amaze me. 

Since: Jun 17, 2007
Posted on: March 6, 2012 11:03 am

Report: Colts have until 4pm Friday to cut Peyton

As someone who pulls for the Colts, as a Peyton Manning fan, I'd like to see Peyton Manning in Miami.

Their defense is better than the Colts, they have a running game, and we are talking Manning-Brady (who always play such great games against each other) twice per year!  And, Miami is a good place for him to try to win a Super Bowl.  They have good pieces in the other places, once you add Reggie Wayne to the roster, as well.  Add to the fact that I still have some Miami stuff from the Dan Marino days, and it's a no-brainer...hahahah.

Secondly, the Ravens would be a GREAT fit.  You know Ray-Ray and the boys would love to have him slinging the rock for an offense that features Ray Rice.  Who ya gonna stop?  The Ravens would be Super Bowl locks with Manning.  And, Irsay would be making it up to the fans for rolling out of Baltimore in the middle of the night!  Hahahaha.

I really can't see Peyton returning to the Colts. He is BIGGER than the horseshoe.  Most Colts fans that don't live in Indy, are Colts fans because of Manning.  When he goes, we go. And, after all he has done for the Franchise...they'd let him hang like this?  Please. Everyone knew Manning was going to play again...Irsay just played on the injury it so he could go with Luck and attempt to spin it to the fanbase.  With that kind of disrespect from Irsay, I don't see any way Manning remains in Indy.

No Manning = no record amount of wins in one decade, no Super Bowl win, no Lucas Oil Stadium, no Super Bowl, and as we will found out post-Manning, they will be back to NO RESPECTABILITY!

Indiana is back to being a basketball state...hahahahah. 

Since: May 21, 2007
Posted on: March 6, 2012 11:03 am

Report: Colts have until 4pm Friday to cut Peyton

Get a life dude.

Since: Mar 6, 2012
Posted on: March 6, 2012 10:56 am
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