Five-time NFL Most Valuable Player Peyton Manning will return for an 18th NFL season and has agreed to a $ 4 million paycut with the Denver Broncos . The Denver Post and ESPN on Wednesday reported that Manning 's pay will be cut from $ 19 million to $ 15 million . The Broncos are expected to make an official announcement of the deal today ( Thursday ) , once the 38-year-old Manning passes a medical exam . He has spent the week considering his options while sunning it up in Miami Beach , Florida with his wife Ashley and two children . Off season : Peyton Manning took some time out with family to ponder his NFL career as rumors of his retirement loomed . The family time must have helped as he has now decided to continue his career . Family man : After taking his physical and signing his revised contract Thursday at Broncos headquarters , Manning will head home until the Broncos reconvene April 13 for the start of offseason workouts . Manning 's return raises the prospect of him becoming , at 39 , the oldest QB to win Superbowl , should the Denver Broncos win it later this year . On Tuesday he swapped his football kit for a tight white T-shirt and snazzy swimming shorts as he played with his young children at the pool . He was also spotted making phone calls out of the water , while admiring his wife Ashley 's beach-ready body . Peyton has a holiday home in South Florida where he likes to relax , workout and train before the NFL season kicks off . After taking his physical and signing his revised contract Thursday at Broncos headquarters , Manning will head home until the Broncos reconvene April 13 for the start of offseason workouts . The team 's general manager , John Elway , said in February that the quarterback would thrive in the team 's new offensive system . Sunning it up : Manning 's wife Ashley joined him by the pool flaunting her beach-ready body . Head-turner : The mother-of-two opted for a simple string bikini as she soaked up the warm weather . When business calls : Manning was also spotted making phone calls out of the water , while admiring his wife Ashley 's beach-ready body . Good sport : The father-of-two protected his skin from the sun in T-shirts and a baseball cap . Low profile : Mrs Manning has said in the past that prefers to stay away from the media . Manning , who turns 39 on March 24 , threw for 39 touchdowns and 15 interceptions last season in leading Denver to the AFC West division title with a 12-4 record . Off the field , the father-of-two runs his own charity , the Peyback Foundation , which helps disadvantaged children in the areas of Louisiana , Tennessee , and Indiana . In 2012 , Manning also purchased 21 Papa John 's Pizza franchises in the state of Colorado . Motherly love : The Mannings , who met while they were in college , have boy and girl twins together . Keeping in shape : Peyton has a holiday home in South Florida where he likes to works out and train before the NFL season kicks off . Birthday boy : The sports star will turn 39 on March 24 ( seen above with his wife and son ) Glittering career : Manning threw for 39 touchdowns and 15 interceptions last season in leading Denver to the AFC West division title with a 12-4 record .
The 38-year-old Denver Broncos quarterback will take a pay cut from $ 19 million to $ 15 million . He is the highest paid player in NFL history, and he has been for years. He was also spotted making phone calls out of the water , while admiring his wife Ashley 's beach-ready body .