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Colts have until Friday at 4:00 p.m. ET to cut Peyton

Ryan Grigson AP

I’ve got to give Jason La Canfora of NFL Network credit for being the first person in the media to realize that the Colts have a window after the final due date for Peyton Manning’s $28 million option bonus to cut him and still avoid owing him the money.

However, the window is much, much narrower than La Canfora has described it.

He thinks the Colts can cut Manning on Sunday.  As previously explained, that would likely result in the Colts stuffing $28 million into Peyton’s pockets as he embarks on free agency.

But even Saturday isn’t good enough.  As we suspected, and as NFL spokesman Greg Aiello confirms, all business for the current week must be transacted by 4:00 p.m. ET on Friday, March 9.  Thus, if Manning is still on the roster as of 4:01 p.m. ET on Friday, March 9, there’s no way the Colts can cut him before Monday morning.

So, at the very latest, G.M. Ryan Grigson (pictured, with Manning fittingly looming over his shoulder) should dump Peyton on Friday afternoon, if the plan is to cut him.  To be as safe as possible, the Colts should just do it now.  The only plausible reason to delay the move would be to give Peyton less time to hit the market before free agency opens, and/or more time for owner Jim Irsay to change his mind and pay Peyton $28 million to ensure he doesn’t play for another team.

It’s simply not worth risking the possibility of paying him $28 million AND seeing him play for another team.

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50 Responses to “Colts have until Friday at 4:00 p.m. ET to cut Peyton”
  1. nebster21 says: Mar 6, 2012 10:02 AM

    Here is to hoping that he pulls a Albert Haynesworth on the Colts.

  2. nebster21 says: Mar 6, 2012 10:02 AM

    well not so much the Colts but Irsay for messing with him.

  3. citiciti says: Mar 6, 2012 10:05 AM

    Enough already s–t or get off the pot!

  4. whatnojets says: Mar 6, 2012 10:06 AM

    Just cut him and move on……..enough is enough!!

  5. mjkelly77 says: Mar 6, 2012 10:08 AM

    I totally agree that the Colts shouldn’t push the deadline. I’ve written many contracts and worked closely with various attorneys from our Office of General Counsel over many years and one thing is clear to me. Words get interpreted in different ways. Unless you have absolutes expressed in a contract, it’s all open to interpretation and proof of intent. It would be a real a$$ burn if the Colts got stuck with a $28 million cap hit for nothing in return. Because I believe Manning is done, the Colts shouldn’t push it any further.

  6. cliffcla says: Mar 6, 2012 10:09 AM

    I stick by my previous post. I still think they should keep him one more year. If anything to fill the seats. If they cut Payton, draft Luck, and go 3-13… Can you say blackouts, and “Job Opening”.

  7. mjkelly77 says: Mar 6, 2012 10:09 AM

    Swamp Boy was done last year. Cast him adrift already.

  8. tashkalucy says: Mar 6, 2012 10:09 AM

    Good to be up on this story 4 times a day.

    And of course, if/when he is cut, we can read 6-8 stories a day about where he might be going.

    Eat your hearts out Brett Favre and Lebron James.

  9. nyyjetsknicks says: Mar 6, 2012 10:12 AM

    Someone needs to tell Irsay to grow a pair, this way we can end this garbage.

  10. thejuddstir says: Mar 6, 2012 10:14 AM

    I see P. Manning going to either the Texans or the Cardinals. The Bidwells have a history of being rather cheap so the Texans makes more sense if they can figure a way to massage Matt Schaub’s feelings.

  11. imsorrybojackson says: Mar 6, 2012 10:14 AM

    Are you sure that’s Ryan Grigson? He’s not exactly a fitness buff, but I’ve never seen him looking that bloated, pale, sweaty or balding. He’s actually an impressive guy, in person at least. Either you guys were a bit harsh with that photo selection, or this Manning thing is stressing him out to the point of decay.

  12. schmeff says: Mar 6, 2012 10:14 AM

    JLC is wrong again? Shocker…

  13. drainbameged says: Mar 6, 2012 10:17 AM

    http://www.manningtomiami.com!!
    you know its going to happen….

  14. turgidsen says: Mar 6, 2012 10:18 AM

    You are assuming that Irsay is going to do something logical here.

  15. lostsok says: Mar 6, 2012 10:19 AM

    !!! FREE PEYTON !!!

  16. raven410 says: Mar 6, 2012 10:24 AM

    By 4pm on Friday..I’ll be able to close this chapter in my life.

  17. golonger says: Mar 6, 2012 10:26 AM

    I would love to see Manning go to the Dolphins…it would set that franchise back another 5 years!

  18. cotts1 says: Mar 6, 2012 10:26 AM

    imsorrybojackson says: Mar 6, 2012 10:14 AM

    Are you sure that’s Ryan Grigson? He’s not exactly a fitness buff, but I’ve never seen him looking that bloated, pale, sweaty or balding. He’s actually an impressive guy, in person at least. Either you guys were a bit harsh with that photo selection, or this Manning thing is stressing him out to the point of decay.

    —————————————————–

    are you serious?….

  19. waitingguilty says: Mar 6, 2012 10:28 AM

    Lacanfora strikes again…

  20. hwatt says: Mar 6, 2012 10:32 AM

    well it’s a tough situation. If the Colts cut him they’re it’s like saying he’ll never play football again. Except everyone is guessing his next team, and then there’s the throwing videos, so everyone on earth is assuming he WILL play again.

    So if he plays again why cut him?

    28mil and Andrew luck breathing down his neck.

    The Colts have huge money tied up in this 28 mil and the rest of Peyton’s contract, and have huge money tied up in Andrew Luck, and btw it’s important to pay other people on a team that supposed to be playing for a championship.

    I think they have a major accounting problem for the umpteenth time they don’t know what to do with

  21. tashkalucy says: Mar 6, 2012 10:33 AM

    “Someone needs to tell Irsay to grow a pair, this way we can end this garbage.”
    ___________

    ….Oh, wait….

  22. dabkg says: Mar 6, 2012 10:33 AM

    thejuddstir says:
    Mar 6, 2012 10:14 AM

    I see P. Manning going to either the Texans or the Cardinals. The Bidwells have a history of being rather cheap so the Texans makes more sense if they can figure a way to massage Matt Schaub’s feelings.
    ————————————————————

    Apparently you haven’t been keeping up with the Texans much. Manning would be a terrible move for Houston. The Texans offense is based on the running game, play-action passing, and roll-outs. That is not Peyton’s style. He is a 100% Pocket Passer.

    Kubiak is not a flexible offensive coach. He knows what he wants his offense to look like. And it took 6 seasons for that offense to finally become what he was trying to build in the first place. As a Texans fan I’d been frustrated for 5 seasons because he wouldn’t change his game plans. Now I finally see why. So why would Kubiak want to bring in the highest priced QB’s on market who doesn’t fit the model of game play for his offense??

    Not to mention the fact that we simply don’t have the cap room to win a bidding war for Manning.

  23. adx321 says: Mar 6, 2012 10:38 AM

    thejuddstir

    You do know this thing called the Salary Cap exists right? The Texans could not possible fit Manning in.

  24. adx321 says: Mar 6, 2012 10:39 AM

    mjkelly77 says:

    your swampboy thing is so cute

    Peyton got more for his 10 year old allowance than you make now

    And you must be the ONE person who knows he’s done – nobody else does yet. How is it being so smart? I bet the pressure is tremendous.

  25. jasonculhane says: Mar 6, 2012 10:39 AM

    What are they waiting for? Does this have to be this dramatic, Jim, you fired your whole team besides Manning, like we don’t know what your gonna do. Do it already!

  26. adx321 says: Mar 6, 2012 10:40 AM

    nebster21 says:
    Mar 6, 2012 10:02 AM
    well not so much the Colts but Irsay for messing with him.

    yeah man that Irsay – giving him 26 mil last year to not play a down – the NERVE of him!

  27. shzastl says: Mar 6, 2012 10:46 AM

    If no league business can be transacted on weekends, wouldn’t “second day before” the end of the league year mean second business day, i.e., Friday? In which case they’d still have to cut him by March 8, because if he’s on the roster Friday they owe him the bonus.

  28. theghostoflombardi says: Mar 6, 2012 10:48 AM

    Surely Irsay and company know exactly what they’re going to be doing with Manning. There aren’t any questions that will gain clarity by Friday, nor are there any variables in this that will change by then.

    I just don’t understand why they want to take this thing to the wire.

  29. adx321 says: Mar 6, 2012 10:50 AM

    ghost,

    Because they can?

    Announcing it today or next week doesn’t really help or hurt either party. It only causes more drama for sites like this and all of us on them :)

  30. pkrjones says: Mar 6, 2012 10:53 AM

    Manning is toast, cut him and let everybody move on. Why dabble with the deadline, he’s done being a Colt… and whoever is stoopid enough to sign him for 2012, you deserve what you get and good luck in the 2013 Barkley/Jones sweepstakes.

  31. rubbernilly says: Mar 6, 2012 10:54 AM

    So what is the difference between the language that describes the window between “the second day after the Super Bowl and the fourth day before the end of the 2011 league year” and “the second day before the end of the 2011 league year”?

    If the money can be paid any time between 2-days-post-SB and 4-days-pre-EoLY, then the implication seems to be that it *can’t* be paid outside of that window… which a 2-day-pre-EoLY deadline would describe.

    In effect, I think the difference is that the Colts must pay Peyton before the 8th (the 4th-day-pre-EoLY), even if they have until Friday @ 4:00 (the business-effective 2nd-day-pre-EoLY) to decide to cut him. Since the money isn’t affirmatively earned until the 2nd-day-pre-EoLY, Peyton would have to then turn around and repay the money if the Colts decided to part ways.

    I guess what I’m getting at is that this doesn’t change anything. If they don’t pay him by Thursday, the language of the contract seems to say that they cannot pay him, so that is effectively the termination of the contract. On the other hand, they could pay him and then still cut him within 24 hours… as unlikely as that is. I can’t see the Colts paying the $28 million just to have another 24 hours (from Thursday the 8th @ 4PM to Friday the 9th @ 4PM) to think about what they want to do.

    If they don’t pay him by the 8th, we’ll know he’s gone.
    If they *do* pay him, we won’t be sure that he’s staying until the 9th (@ 4PM).

    Mike, can you confirm this interpretation? Or clarify?

  32. baddegg says: Mar 6, 2012 11:01 AM

    There is really no point in not making a decision right now one way or another. Initially, I was sympathetic with the Colts because it’s tough to cut a legend for the future good of the team, and yet they have to do it. Yet, but dragging it out before giving him the axe, they are coming off as jerks.

  33. neko02011980 says: Mar 6, 2012 11:01 AM

    why can’t they wait until the last minute? it is their decision.

    my guess is he retires at a presser friday afternoon.

  34. hotlinernfl says: Mar 6, 2012 11:02 AM

    pkrjones says: Mar 6, 2012 10:53 AM

    Manning is toast, cut him and let everybody move on. Why dabble with the deadline, he’s done being a Colt… and whoever is stoopid enough to sign him for 2012, you deserve what you get and good luck in the 2013 Barkley/Jones sweepstakes.

    ——————————————————-

    “Stoopid”.. really?

  35. claydefayette says: Mar 6, 2012 11:08 AM

    Can Jason get correct information? Cantforya

  36. kaf39 says: Mar 6, 2012 11:16 AM

    should be interesting

  37. croghan1919 says: Mar 6, 2012 11:17 AM

    Delay the important decisions until the drop dead minute and let the lawyers sort it out…good idea.

  38. mwanamatapa says: Mar 6, 2012 11:43 AM

    This story on the non-exercise fee within the contract was reported on in January by Andrew Brandt of ESPN, and by Chris Mortensen on NFL32 a few weeks back. Jason LaCanfora is not the first to report this.

  39. savocabol1 says: Mar 6, 2012 11:50 AM

    He won’t get cut. He will play for the Colts in the upcoming season.

  40. jayrandle says: Mar 6, 2012 12:22 PM

    Why the delay?
    You have known you going to move on for months now…

    You known since week 10 in the NFL season that you will have the number 1 pick…

    You know you going to pick Andrew Luck…

    At this point you have talked to the doctors and followed up on the doctors reports…

    You spoken to Manning already…

    Cut him at this point and let both sides move on.

  41. vegaskid21 says: Mar 6, 2012 12:22 PM

    *Jaws Theme*

  42. mjkelly77 says: Mar 6, 2012 12:29 PM

    adx321 says:Mar 6, 2012 10:39 AM

    mjkelly77 says:

    your swampboy thing is so cute

    Peyton got more for his 10 year old allowance than you make now

    And you must be the ONE person who knows he’s done – nobody else does yet. How is it being so smart? I bet the pressure is tremendous.
    __________________________

    adx321, I see you’ve got a bit of a man crush going.

  43. fjdk4444 says: Mar 6, 2012 12:34 PM

    adx321 says: Mar 6, 2012 10:39 AM

    mjkelly77 says:
    And you must be the ONE person who knows he’s done – nobody else does yet. How is it being so smart? I bet the pressure is tremendous.

    No actually MJK…You know it, I know it and Rob Lowe knows it. It’s no pressure at all, just common knowledge.

  44. 1historian says: Mar 6, 2012 1:02 PM

    Just cut the guy today – get it out of the way.

    But that would make FAR too much sense, and we can coun t on irsay to f..k things up.

    Which is good

  45. jgava19 says: Mar 6, 2012 1:07 PM

    He isn’t effing anything up. He’s letting due process run its course. Quit whining already. So easy to spend other peoples money, isn’t it?

  46. jetsjetsjetsjets says: Mar 6, 2012 1:38 PM

    They will PAY him and then trade either Payton or Andrew Luck. It sets them up for years to come and it only costs money. they could probably get most of the cash back in the trade!!!!

  47. godzilla111111 says: Mar 6, 2012 1:54 PM

    Swamp Boy-again?
    Gee dude you are a riot.

  48. brian32556 says: Mar 6, 2012 2:23 PM

    The Giants should sign him as Eli’s backup!! :-)

  49. halbert53 says: Mar 6, 2012 2:31 PM

    Best possible landing place for Manning would be Houston. And since Colts are in full blown rebuilding mode so what if same division.

  50. ray21230 says: Mar 6, 2012 3:51 PM

    Sorry i am a Baltimore man, i hope the Irsays get screwed in every way possible for leaving us in the middle of the night, i hope those mayflower trucks deliver all of Peytons money to him

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