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AP source: Manning, Broncos talking about reworking contract

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Peyton Manning -- updated 10/19/2014
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AP source: Manning, Broncos talking about reworking contract
DENVER, CO - OCTOBER 19: Quarterback Peyton Manning #18 of the Denver Broncos drops back to throw on what would be his 509th career touchdown pass in the second quarter of a game against the San Francisco 49ers at Sports Authority Field at Mile High on October 19, 2014 in Denver, Colorado. (Photo by Dustin Bradford/Getty Images)
DENVER, CO - OCTOBER 19: Quarterback Peyton Manning #18 of the Denver Broncos celebrates his 509th career touchdown pass in the second quarter of a game against the San Francisco 49ers at Sports Authority Field at Mile High on October 19, 2014 in Denver, Colorado. (Photo by Dustin Bradford/Getty Images)
DENVER, CO - OCTOBER 19: Quarterback Peyton Manning #18 of the Denver Broncos celebrates on the sideline after throwing his NFL record 509th career touchdown pass with Demaryius Thomas #88, who caught the pass, in the second quarter of a game against the San Francisco 49ers at Sports Authority Field at Mile High on October 19, 2014 in Denver, Colorado. (Photo by Justin Edmonds/Getty Images)
DENVER, CO - OCTOBER 19: Linebacker Aaron Lynch #59 of the San Francisco 49ers congratulates quarterback Peyton Manning #18 of the Denver Broncos on his NFL-record 509th career touchdown pass in the second quarter of a game at Sports Authority Field at Mile High on October 19, 2014 in Denver, Colorado. (Photo by Justin Edmonds/Getty Images)
DENVER, CO - OCTOBER 19: Quarterback Peyton Manning #18 of the Denver Broncos celebrates with teammates and the coaching staff on the sideline after throwing his NFL record 509th career touchdown pass in the second quarter of a game against the San Francisco 49ers at Sports Authority Field at Mile High on October 19, 2014 in Denver, Colorado. (Photo by Justin Edmonds/Getty Images)
DENVER, CO - OCTOBER 19: Quarterback Peyton Manning #18 of the Denver Broncos smiles after throwing his NFL record 509th career touchdown pass in the second quarter of a game against the San Francisco 49ers at Sports Authority Field at Mile High on October 19, 2014 in Denver, Colorado. (Photo by Justin Edmonds/Getty Images)
DENVER, CO - OCTOBER 19: Quarterback Peyton Manning #18 of the Denver Broncos drops back to throw his 509th career touchdown pass against the San Francisco 49ers during the second quarter of a game at Sports Authority Field at Mile High on October 19, 2014 in Denver, Colorado. (Photo by Justin Edmonds/Getty Images)
DENVER, CO - OCTOBER 19: Quarterback Peyton Manning #18 of the Denver Broncos throws a pass against the San Francisco 49ers during the second quarter of a game at Sports Authority Field at Mile High on October 19, 2014 in Denver, Colorado. (Photo by Justin Edmonds/Getty Images)
DENVER, CO - OCTOBER 19: Peyton Manning (18) of the Denver Broncos celebrates his 508th touchdown. The Denver Broncos played the San Francisco 49ers at Sports Authority Field at Mile High in Denver on October 19, 2014. (Photo by AAron Ontiveroz/The Denver Post via Getty Images)
DENVER, CO - OCTOBER 19: The crowd celebrates Peyton Manning (18) of the Denver Broncos 508th touchdown. The Denver Broncos played the San Francisco 49ers at Sports Authority Field at Mile High in Denver on October 19, 2014. (Photo by AAron Ontiveroz/The Denver Post via Getty Images)
DENVER, CO - OCTOBER 19: Peyton Manning (18) of the Denver Broncos on the line in the first quarter. The Denver Broncos played the San Francisco 49ers at Sports Authority Field at Mile High in Denver on October 19, 2014. (Photo by John Leyba/The Denver Post via Getty Images)
DENVER, CO - OCTOBER 19: Peyton Manning (18) of the Denver Broncos looks to pass during the first quarter. The Denver Broncos played the San Francisco 49ers at Sports Authority Field at Mile High in Denver on October 19, 2014. (Photo by John Leyba/The Denver Post via Getty Images)
DENVER, CO - OCTOBER 19: Peyton Manning (18) of the Denver Broncos during the national anthem. The Denver Broncos played the San Francisco 49ers at Sports Authority Field at Mile High in Denver on October 19, 2014. (Photo by John Leyba/The Denver Post via Getty Images)
DENVER, CO - OCTOBER 19: Peyton Manning (18) of the Denver Broncos, Wes Welker (83) of the Denver Broncos and Louis Vasquez (65) of the Denver Broncos during the national anthem. The Denver Broncos played the San Francisco 49ers at Sports Authority Field at Mile High in Denver on October 19, 2014. (Photo by John Leyba/The Denver Post via Getty Images)
DENVER, CO - OCTOBER 19: Louis Vasquez (65) of the Denver Broncos, Peyton Manning (18) of the Denver Broncos, Colin Kaepernick (7) of the San Francisco 49ers and Joe Staley (74) of the San Francisco 49ers watch the coin toss before the game. The Denver Broncos played the San Francisco 49ers at Sports Authority Field at Mile High in Denver on October 19, 2014. (Photo by John Leyba/The Denver Post via Getty Images)
DENVER, CO - OCTOBER 19: Quarterback Peyton Manning #18 of the Denver Broncos drops back to pass against the San Francisco 49ers during the first quarter of a game at Sports Authority Field at Mile High on October 19, 2014 in Denver, Colorado. (Photo by Doug Pensinger/Getty Images)
DENVER, CO - OCTOBER 19: Quarterback Peyton Manning #18 of the Denver Broncos drops back to pass against the San Francisco 49ers during the first quarter of a game at Sports Authority Field at Mile High on October 19, 2014 in Denver, Colorado. (Photo by Doug Pensinger/Getty Images)
DENVER, CO - OCTOBER 19: Wide receiver Emmanuel Sanders #10 of the Denver Broncos celebrates a touchdown with Peyton Manning #18 and Julius Thomas #80 in the first quarter of a game against the San Francisco 49ers at Sports Authority Field at Mile High on October 19, 2014 in Denver, Colorado. (Photo by Justin Edmonds/Getty Images)
DENVER, CO - OCTOBER 19: Quarterback Peyton Manning #18 of the Denver Broncos emerges from the tunnel before a game between the Denver Broncos and the San Francisco 49ers at Sports Authority Field at Mile High on October 19, 2014 in Denver, Colorado. (Photo by Doug Pensinger/Getty Images)
DENVER, CO - OCTOBER 19: Denver Broncos fans Tim Baker and Liz Branson hold a sign showing their support for Peyton Manning #18 (not pictured) before a game between the Denver Broncos and the San Francisco 49ers at Sports Authority Field at Mile High on October 19, 2014 in Denver, Colorado. (Photo by Doug Pensinger/Getty Images)
DENVER, CO - OCTOBER 19: Quarterback Peyton Manning #18 of the Denver Broncos throws as he warms up before a game against the San Francisco 49ers at Sports Authority Field at Mile High on October 19, 2014 in Denver, Colorado. (Photo by Doug Pensinger/Getty Images)
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ENGLEWOOD, Colo. (AP) -- It looks as if it's going to come down to money.

A person with knowledge of the negotiations confirms the Denver Broncos and Peyton Manning's representatives are discussing ways to revise his contract and give the team more flexibility in free agency.

The person spoke to The Associated Press on condition of anonymity because of the sensitive nature of the talks.

Manning, who has made more money than any player in pro football history, is due to make another $19 million in both 2015 and `16, and his salary cap number for next season is $21.2 million.

John Elway has traditionally been one of the more aggressive general managers in the NFL when it comes to free agency, and he has plenty of problems to fix again this offseason.

Last year he lured DeMarcus Ware, T.J. Ward, Aqib Talib and Emmanuel Sanders, Pro Bowlers all, and he wants to make another run at a Super Bowl title with Manning, who turns 39 next month.

Redoing Manning's deal would give Elway more maneuverability as he addresses Denver's offseason needs, including retooling the offensive line that figures to have up to three new members next season.

Following Denver's playoff loss to his former team, the Indianapolis Colts, last month, Manning was non-committal about playing next season, which would be his 18th in the NFL. Elway asked him the next morning not to make a rash decision.

Manning flew to Denver on Feb. 12 to meet with Elway and new coach Gary Kubiak, both of whom said at the NFL scouting combine last week that they expected Manning to be their quarterback next season.

Manning must also pass a physical by March 5 where doctors check to see if there's any degeneration in his surgically repaired neck, but both the five-time MVP and Elway have said they consider that a mere formality.

The Broncos figure to have about $27 million to work with under the projected $148 million salary cap in 2015, but a franchise tag for star receiver Demaryius Thomas next week would eat up about half of that figure. Placing the franchise tag on Thomas would buy them some time to negotiate a long-term deal. They did that with kicker Matt Prater and blindside protector Ryan Clady.

They also have to allot at least $6 million for their bevy of draft picks that's expected to include multiple compensatory selections for all the free agents they lost last year.

Manning owns most of the significant QB records and is a half-season's worth of yards - 2,148 - shy of breaking Brett Favre's yardage record of 71,838.

Peyton Manning Career Passing Stats | PointAfter
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