Eli Manning has agreed to a new six-year, $97 million contract extension with the New York Giants that will make him the highest paid player in the NFL with an average salary of roughly $15.3 million.
A person close to the talks who asked not to be identified says Manning is guaranteed $35 million under the deal that will keep him with the Giants through the 2015 season. The person spoke on condition of anonymity because the deal was not signed and had not been announced.
There is a chance the deal could be signed Wednesday, but both sides wanted to review the contract, the person said.
Manning, who led the Giants to a Super Bowl upset of the New England Patriots in February 2008 and was named the MVP of the game, was in the final year of the contract he signed as the No. 1 overall pick in 2004. He will make $9.4 million under that deal this season.
Tom Condon, Manning's agent, was not immediately available for comment. The Giants had no immediate comment.
This deal will give Manning an average salary that is roughly $200,000 higher than the one earned by All-Pro cornerback Nnamdi Asomugha of the Oakland Raiders. He agreed to a three-year, $45.3 million contract this year.
The salary obviously also is higher than that earned by Manning's big brother, Peyton. The Indianapolis Colts quarterback earns an average of $14.17 million annually.
The two sides have been discussing a contract for months, but they worked out the last details in recent days.
While Manning's contract was to expire at the end of this season, there was little chance the Giants would lose him to free agency. They could have named him a franchise player and Manning has long said he wants to remain with the Giants.
Eli Manning took over as the Giants starter midway through his rookie season and he has led New York to the playoffs in each of the past four seasons.
Manning went to the Pro Bowl for the first time last season, completing 289 of 479 passes for 3,238 yards and 21 touchdowns. He also threw only 10 interceptions, 10 less than the previous season.
Manning has started the last 71 games for New York, the third longest streak among active quarterbacks at the end of last season. During that span he has also become the first Giants quarterback to throw for 3,000 yards and at least 20 touchdowns in four consecutive seasons.