Peyton Manning, who finished second in the league with 39 touchdown passes last year, has agreed to take a pay cut to return to the Denver Broncos.
The 38-year-old Manning will see his base salary drop from $19 million to $15 million next season, the Denver Post reported Thursday.
"We're glad to work something out with Peyton so that he will be part of our team this season," said Broncos general manager John Elway.
Manning, who is heading into his 18th National Football League season, can earn the $4 million back in bonus incentives.
The five-time NFL MVP threw for a league-record 55 touchdowns in 2013 and is the NFL's all-time leader in that category. He finished last year's season with 4,727 passing yards and a 101.5 quarterback rating.
Manning is entering the fourth season of a five-year, $95 million contract he signed three years ago with Denver.
Manning has started every game with the Broncos and led Denver to an AFC championship in 2013.
But the Broncos have brought in a new head coach Gary Kubiak which led to speculation that Manning could be replaced.
"I'm excited Peyton is returning, and I look forward to working with him and all our players starting next month," said Kubiak.
It marks the first time in Manning's brilliant career that he has agreed to a pay cut.
Source: AFP