According to an NFL source who spoke to Klis, the two parties are hoping to reach an agreement on a revised contract by early next week.
Klis has confirmed that multiple sources that Manning intends to play next season, so it appears as though the delay in an official announcment is related to his contract situation.
Manning, 38, has another two years remaining on his five-year, $96 million contract, which includes base salaries of $19 million for the 2015 and 2016 seasons.
If he’s still on the Broncos’ roster as of March 9, his $19 million salary for the 2015 season would become fully guaranteed.
Manning’s 2014 season ended with him throwing for 4,727 yards while completing 66.2 percent of his passes to go along with 39 touchdowns and 15 interceptions. Pro Football Focus rated him as the No. 10 quarterback out of 39 qualifying players.
We’ll have more updates regarding the Broncos and Manning as the news is available.