The pact includes a $20 million signing bonus, a $28 million option bonus and a 2011 roster bonus of $3 million, according to the newspaper. The team's ability to pro-rate the signing and option bonuses lets Manning's annual cap number increase gradually, according to the paper.
The year-by-year breakdown:
2011: $3.4 million base, $16 million against the salary cap.
2012: $7.4 million base, $17 million against the cap.
2013: $8.4 million base, $18 million against the cap.
2014: $9.4 million base, $19 million against the cap.
2015: $10.4 million base, $20 million against the cap.
Manning, 35, remains on the physically unable to perform list after offseason neck surgery.