Sources: Manning to make $49M over three years
Though New York Giants quarterback Eli Manning(notes) received a $35 million guarantee as part of the six-year contract he signed Thursday, the reality is that Manning is virtually guaranteed to make $49 million over the next three years, two sources said.
That's all part of the extension that will keep him with the Giants until 2015. Manning was already under contract for this season for a total of $9.4 million. The additional six years are worth a total of $97.5 million in new money, but some agents had wondered about the guaranteed portion of the deal.
The Giants structured the deal so that the guarantee wouldn't exceed the $40 million plateau reached by players such as Albert Haynesworth(notes), Terrell Suggs(notes) and Matthew Stafford(notes).
"The Giants were very concerned about the appearance of the guarantee and the cash flow," a source said. "That was a big point the whole time, but Manning still got every dollar that [agent] Tom Condon wanted. They're not cutting him anytime in the next three years, so he's going to make that money."
The deal is structured so that Manning will receive $20.5 million this year. By the end of the 2010 season, he will have made $40 million and by the end of 2011 he will have made a total of $49 million.
