Manning takes first pay cut to return to Broncos

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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.

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