$90m for Manning

• Peyton Manning has a new long-term deal in time to report to training camp
• He still hasn't been cleared to practise.

Colts owner Jim Irsay said he was "thrilled" to sign the only four-time MVP in NFL history to a deal that likely will keep him in Indianapolis for the rest of his career. Details of the contract were not immediately available but it is believed to be for five years. The contract reportedly is worth US$90 million.

New England's Tom Brady earns US$18 million a year.

"Signing Peyton was a top priority for this organisation and we are thrilled that the deal is complete," Irsay said in a statement released by the team Saturday. "We feel that it is a salary cap-friendly deal and it allows us more flexibility."

The deal comes nearly five months after the team used the exclusive franchise tag to prevent Manning from negotiating with other teams. Had Manning signed the one-year offer, he would have made US$23.1 million this season.

By getting the long-term deal done, Manning's salary cap number will be reduced, allowing the team to sign more of its own free agents.

Other key players that Indy is trying to work out deals with include running-back Joseph Addai and left-tackle Charlie Johnson.