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Denver Broncos Sign Peyton Manning To 5-Year, $96 Million Contract

UPDATE: 11:39AM et - Andrew Brandt reported the following:

What does that mean? $58 million the first three years(I guessed $60 million), though we'll need to see exactly how the injury waiver protects the Broncos after the first year.

The Denver Broncos and Peyton Manning have agreed to a 5-year, $96 million contract. The team has scheduled a press conference for 1:00PM mt to introduce Manning to the media - Manning flew into Denver last night.

Further contract details are not known at this time, but my guess would put the guaranteed money somewhere in the $35-$40 million range, with $60 million in the first three years.

This afternoon's press conference will be live-streamed on, and we'll provide a link and an open thread for you to talk about what the Broncos and their newest starting quarterback has to say.

This is a huge day in Denver Broncos history, surpassed only by May 2, 1983 when the Broncos acquired the rights to John Elway from the Baltimore Colts and the Back-to-Back Super Bowl Championships engineered by John Elway and Co. in 1997 and 1998.

There is still work to be done, but Peyton Manning provides instant legitimacy to the offense, and that will help the defense immediately as well.