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Eli Manning Restructures Contract with Giants

A person familiar with the decision says Super Bowl MVP Eli Manning has restructured his contract with the New York Giants.

Al Bello, Getty Images

The person spoke to the AP on condition of anonymity Thursday because the team has not officially announced the quarterback’s deal.

Under terms of the restructuring, the Giants will guarantee $9 million of Manning’s $10.75 million salary in 2012. The move allows the Giants to divide the guarantee over the final four years of the contract, reduces his base salary to $1.75 million and clears roughly $6.75 million in cap space, the source said.

Manning had a career season in 2011, leading the Giants to their second Super Bowl title in five seasons.

(Copyright 2012 by The Associated Press.  All Rights Reserved.)

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