Having problems reading today, Scott?
From the ESPN story you linked:
"Manning's new contract, however, should permit the Colts to conduct business as usual and to make qualifying offers to their restricted free agents before the deadline. It is believed that, when Manning signs the contract, his salary cap charge for '04 will now be more than halved."
In other words, had the Colts been forced to pay Manning as their franchise player, the cap hit
would have been $18.4 million. However, the Colts and Manning instead agreed to a long-term deal, allowing them to remove the franchise tag and cutting the cap figure more than half. Get it, or is this math stuff a little tricky?
Now, here's a Washington Post piece written more than two months later after the contract details came out (unlike the ESPN story you linked):
"The contract calls for Manning to pocket all $34.5 million of the signing bonus by March 5, 2005. It begins with modest salaries of $535,000 for the upcoming season and $665,000 in 2005, but has roster bonuses of $9 million in 2006 and $10 million in 2007 to go with salaries of $1 million for each of those years."
http://www.washingtonpost.com/wp-dyn/articles/A33299-2004May17.html
Now, let's do the math. A $535,000 base salary plus one-seventh of a $34.5 million bonus = $5.45 million.
Is this where I insert a smiley to show how cool I am?