Manning, Colts Closer To Contract

By CBSNews.com staff CBSNews.com staff

July 20, 1998 / 9:30 PM EDT / CBS Sportsline

While Peyton Manning sat waiting in Knoxville, his agent and his prospective boss sat down Tuesday to discuss the millions in Manning's future.

Tom Condon, the former Kansas City guard who represents the NFL draft's top pick, flew to Indianapolis to talk with Indianapolis president Bill Polian in an attempt to work out a deal before the team opens camp on Thursday.

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"We have a framework, but no dollar amounts have been discussed," said Polian, who added that Oakland's $14.5 million, six-year deal with Charles Woodson, the fourth overall pick, might provide a framework.

Manning's contract, however, is likely to be for considerably more. Not only was he the top overall pick in April's draft, but he's a potential franchise quarterback, meaning his price will be higher.

Manning's deal also will affect the contract signed by Ryan Leaf, the other franchise quarterback in the draft. He was taken second overall by San Diego and remains unsigned while his agent, Leigh Steinberg, waits to see what happens with Manning.

The Colts did sign one of Manning's teammates Tuesday, agreeing to a two-year deal with defensive back Cory Gaines, their final pick in the draft.