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49ers Pursue Peyton Manning; Broncos Reportedly Offering $90 Million Over 5 Years

The Peyton Manning free agency mania picked up again today as it was reported the San Francisco 49ers are the third team in the race to sign the future Hall-of-Famer. With three teams in the bidding, it's come out that each suitor is moving forward with the assumption that they'll be paying somewhere in the ballpark of Manning's old contract with the Colts.

Per Mike Klis of the Denver Post,

[An] NFL source indicated that all involved teams are comfortable working off Manning's previous contract with the Indianapolis Colts, which was five years for $90 million, or an average of $18 million per year. Additionally, Manning was to receive $61.8 million through the first two years of his contract with the Colts.

This means that, if true, the 'winning' bidder for Manning is looking at a potential $30 million hit or so in each of the first two years of Manning's contract, which is a pretty scary number regardless of a team's cap space.

For more on the Niners chances to sign Peyton, head over to Niners Nation.