“It’s worth pointing out that the Colts can get out of Manning’s contract after one year and $26 million without any other money being guaranteed, according to a league source,” writes Schefter.
“Manning has a $28 million option bonus/non-exercise bonus in Year 2 that is due on the fifth day before the end of the 2011 league year, according to the source,” adds Schefter. “But if the Colts cut Manning after Year 1, they pay neither.”
The idea that the Colts would consider cutting Peyton Manning at some point in the near future shows you just how far this story has evolved. Indianapolis isn’t going to release arguably the greatest player in their franchises history unless they know his career is over. Manning’s neck injury is severe enough that it could end up being career threatening but at this point in time, it seems like he has a shot of returning later in the season. Interesting to think about none-the-less.