Irsay aims to have lucrative deal for Manning in offseason

The Indianapolis Colts will start working on a contract extension for star quarterback Peyton Manning once the season ends. That is not a guess. It's the promise of team owner Jim Irsay, who said he anticipates no problem reaching a settlement that, in all likelihood, will make Manning the game's highest-paid player.

Manning's new contract will probably make him the highest-paid player in the league. (US Presswire)

Manning's current contract runs through 2010, but Irsay said he has no intention of letting Manning start next season without a new deal in place. In fact, he said he would like to have talks wrapped up by early next summer.

"We'll be dealing with that undoubtedly in the offseason," he said, "and it's something to me that's a given. It's something that is going to get done. With him it's such a unique situation: It always comes down to working it through when the time is right. He's going to be part of us for his whole career, and I'd say at some point in the offseason we'll start talking.

"I'd like to. The key thing is you don't have to; the key thing is we would both like to. He would, and we would. That's the nature of things in terms of always trying to get it done sooner rather than later."

Manning last signed a contract in 2004, a $99.2 million deal that paid him what was then a league-record $14.5 million annually. The deal included a $34.5 million signing bonus, which was also an NFL record. Since then, Manning has won a Super Bowl, his third MVP award and taken the Colts to two 13-0 starts.

Manning's brother, Eli, signed a deal this summer that will pay him $106.9 million over the next seven years, a contract that made him the highest-paid player in the game. Under the terms of the deal, the Giants quarterback was guaranteed $35 million, and it's fairly certain that whatever Peyton Manning gains in his next contract it will exceed the figures of his brother's contract.

"With him," Irsay said of Peyton Manning, "I like to say it's his last contract. But I'm not so sure. Time will tell if he plays until he's 40 or 41, and I think he can if he stays healthy."

At 33, Manning is having one of the best seasons in an illustrious 12-year career, with eight 300-yard games in his first nine starts and another undefeated season. In Sunday's defeat of Denver he threw four touchdown passes for the 20th time in his career and led the Colts to their 22nd-regular-season win, an NFL record.

"The way he's managed things has been incredible," said Irsay." It's 24-7 in terms of preparation.

There have been no preliminary talks between the Colts and Manning's agent, Tom Condon, over a new contract, Irsay said, but he anticipates there will be after the season ends. He did not specify a time, and he did not specify a figure. But he did insist that something will happen.

"We've always gotten it done," he said.