Peyton Manning renegotiates contract to include insurance clause

Because it wouldn't be fair to have a slow news day in the NFL, Peyton Manning and the Broncos agreed to a renegotiated contract on Friday. Despite the headline-grabbing nature of that sentence, the change is actually "very minor" a source tells CBSSports.com's Mike Freeman.

The "new" deal shows up on the NFL.com transactions page and is listed as a "Renegotiated Contract."

Manning's "new" contract was first reported by Mike Florio of Pro Football Talk, who wrote that the contract "reflects that the team has purchased an insurance policy in the event Manning suffers a serious injury."

Freeman confirms the Broncos are "protecting themselves for cap purposes" -- the insurance clause helps protect Denver in the event that their quarterback, slated to make $40 million guaranteed over the next two years, suffers a major injury not relating to the neck injury that ended his run with the Colts.

Which is probably why they'd like to make sure their investment is insured.


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