Blog Entry

Report: Eli reworks contract, saves Giants $6.75M

Posted on: March 8, 2012 3:08 pm
Eli's restructured his deal to help the Giants make another run. (Getty Images)
By Will Brinson

We've spent most of the past week talking about Peyton Manning, but his little brother Eli Manning -- you know, the one who just won a Super Bowl -- deserves some love too. Especially since he just reportedly restructured his contract to save the Giants some room under the salary cap.

According to Paul Schwartz of the New York Post, Eli made changes to his contract that will get him more money immediately and lower his salary for 2012.

Originally, Manning stood to make $10.75 million in 2012. Under the new restructured terms, his salary will be just $1.75 million, though he pockets $9 million right now. (Decent payday, and well worth the money.)

That means the Giants will receive $6.75 million in cap relief for 2012. Manning's contract for 2013, 2014 and 2015 remains unchanged: he'll still make $13 million, $15.15 million and $17.5 million, respectively.

It's a wise move for both sides. Manning gets a big cash payment, the Giants get more room (they were one of the more salary-soaked teams in the NFL) and Eli allows the Giants to try and keep valuable pieces around him, as they look to re-load and make another run at a title.

Here's an interesting additional twist, courtesy of Mike Florio of Pro Football Talk: because Peyton and Eli are now making significantly less than they were a week ago for 2012, recently-franchised Saints quarterback Drew Brees could see his franchise-tag value take a serious dip. Obviously that could change depending on how much Peyton signs for whenever he signs, but for now, it's just another reason for Brees to be less than thrilled.

For more NFL news, rumors and analysis, follow @EyeOnNFL on Twitter, Like Us on Facebook, subscribe to our NFL newsletter, and while you're add it, add our RSS Feed.

Since: Nov 1, 2006
Posted on: March 8, 2012 8:19 pm
This comment has been removed.

Post Deleted by Administrator

Since: Dec 29, 2009
Posted on: March 8, 2012 7:42 pm

Report: Eli reworks contract, saves Giants $6.75M

im pretty sure the san diego mess was archie speaking thru eli. i doubt he wanted eli to go thru the mess he did when playing for the saints. it also came down to a few teams looking to draft a qb int he first round not the entire league. im sure most people would want to play in a big market over others. Call him a brat if u like but obviously archie was right

Since: Apr 14, 2011
Posted on: March 8, 2012 7:36 pm

Report: Eli reworks contract, saves Giants $6.75M

Eli's making room for his older brah to join the Giants.  It's always great when a family takes care of each other.  I wonder if Paul O'Neill and Shaq O'Neal will take care of each other as well as Tom Brady and Quinn Brady.  Bernie and Heather Kosar.  Santonio and John Holmes.

Since: Jul 11, 2008
Posted on: March 8, 2012 7:27 pm

Report: Eli reworks contract, saves Giants $6.75M

He'll make 10 times that inn endorsement deals..Great team player.

Few guys can afford to do this..especially with NFL owners able to cut you anytime.

Since: Aug 27, 2006
Posted on: March 8, 2012 6:53 pm

Report: Eli reworks contract, saves Giants $6.75M

huge giants fan and huge eli supporter... but, I do hate that fact about his career.

but then again, glad he did it b/c while eli made a bold and unconventional move (although, not the first to do it - John Elway anyone?) that leaves him despised by some... the other option (rivers) has proven to be bit of a deush on the field and I don't think he'd have handled NY very well.

Since: Sep 11, 2006
Posted on: March 8, 2012 6:14 pm

Report: Eli reworks contract, saves Giants $6.75M

Taking money up front doesn't make Eli honorable there pal (not saying he isn't, just saying redoing his contract isn't a measure of honor).  Don't EVER forget, he whined and cried and moped his way out of San Diego.  Was it a good move?  Looks like it.  But it also makes him look like a spoiled brat too.  Peyton played for the horribly dysfunctional team that drafted him and guess what?  He MADE the Colts into perennial contenders!  THAT, is being a man.  Eli will never be able to make that statement.  Never.  Eli seems like a great guy, but he can't change the past...

Since: Aug 21, 2006
Posted on: March 8, 2012 6:03 pm

Report: Eli reworks contract, saves Giants $6.75M

I'm very proud he's our QB.  Eat ur heart out betoches.  This man is an honorable QB not like Ben Rapeberger or Tom CryBrady.  Repeat??????  One thing is for sure,  NE isn't going to STOP US!!! LMAO 18-1,  15-4

Since: Apr 5, 2007
Posted on: March 8, 2012 5:42 pm

Report: Eli reworks contract, saves Giants $6.75M

Of COURSE he's still going to make the money in the original contract.  This is an accounting move, and it frees up cap space.  The union would never approve a restructuring whereby the contract's value goes DOWN.  If you recall when the Alex Rodriguez trade to Boston was nullified, it was becasue the union said the way he restructured his contract resulted in a reduction in total benefit.  The football union also has to ok this. 

Since: Mar 5, 2011
Posted on: March 8, 2012 5:37 pm

Report: Eli reworks contract, saves Giants $6.75M

Ok well, i just read about it and the whole taxes and putting money away thing aside, the main point of this restructuring thing is that although the giants save almost 7 mill is cap space this year, they lose it back over the next few years, so its basically a move to help this years cap, while sacrificign the next few years.  Guess they wanna make sure they keep this Super Bowl winning team together this next year and then worry about the cap next year

Since: Dec 21, 2007
Posted on: March 8, 2012 5:27 pm

Report: Eli reworks contract, saves Giants $6.75M

B_lake2232 is a scumbag and has no class whatsoever! Whether you like Victor Cruz or not you can not discount the fact that this kid is a good kid and has more class in his little finger tham you have in your whole body! Classless Douchebag!

The views expressed in this blog are solely those of the author and do not reflect the views of CBS Sports or