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Colts' Irsay on Manning's contract: 'We've had discussions'

Indianapolis Colts owner Jim Irsay, attending the NFL Fall League Meeting in Chicago on Tuesday, declined to provide a substantive update on contract extension talks with his star quarterback, Peyton Manning.

"We've had discussions," Irsay said. "You get things done when it's quiet -- and it's quiet. That's the way we want to move forward."

That innuendo was about as much insight as Irsay shared on the status of the negotiations, but he did say that talks are ongoing.

Manning is in the final year of a seven-year, $98 million deal ($14 million average), and Irsay has repeatedly said that he intends to make the quarterback the NFL's highest-paid player, even if it takes the prohibitive franchise tag to keep the only four-time MVP in league history in blue and white.

Manning's contract situation has been previously compared to that of New England Patriots quarterback Tom Brady. In September, Brady signed a four-year, $72 million contract extension, averaging $18 million per season for 2011 to 2014, with $49 million guaranteed.

Manning's brother, New York Giants quarterback Eli Manning, previously was the league's highest-paid player at $16.25 million annually.

Copyright 2010 by The Associated Press

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