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Peyton Manning Update: Denver Broncos Offer Manning $60 Million, 5-Year Contract

Mike Klis of The Denver Post is reporting that the Denver Broncos have offered free agent QB Peyton Manning a 5-year contract worth around $60 million:

An NFL source said Manning and his camp have narrowed their choices to the Broncos and Tennessee Titans. The parameters of the deal, according to the source, that both teams are working off: $60 million total, give or take, and a $30 million guarantee, give or take, spread over five years.

On Friday afternoon, a contingency of Broncos executives, including John Elway, flew to Raleigh, North Carolina, to observe Manning during a scheduled workout. The Broncos hope to sign Manning and are expected to find a trade partner for incumbent QB Tim Tebow, whose reported trade stock is rather low.

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