Manning agreed to restructure his current contract to save the Giants approximately $6.75 million on this year's cap, according to The Star-Ledger. Manning was due $10.75 million in base salary in 2012, according to the report. The Giants agreed to guarantee $9 million of that amount, reducing his base salary to $1.75 million and pro-rating the guaranteed portion over the remaining four years of his contract.
Manning signed a six-year, $97 million contract extension in 2009.
According to the New York Daily News, Manning is scheduled to make base salaries of $13 million in 2013, $15.15 million in 2014 and $17 million in 2015. His cap numbers for those years are now $20.85 million (in 2013), $20.4 million (in 2014) and $19.75 million (in 2015), per the report.
NFL Network insider Jason La Canfora reported the official salary cap figures for the 2012 season will be released by Friday, and will be very similar to the 2011 salary cap of around $120 million.