I should start by saying that I am aware that what this posts suggests is EXTREMELY unlikely. So please try to resist the urge to verbally castrate me. I'm not privy to the inner workings of the business aspects of the NFL, so I'm more interested as to whether it is POSSIBLE, or are there rules built into the system that render it a moot point.
With that said, could Manning renegotiate his contract to a ridiculously low amount? I'm not Peyton's accountant, but I'd say that the guy ain't hurting for money. Not to mention that he surely has a lot of earning potential left in either coaching, broadcasting, dancing. It was just a "what if" fantasy scenario that I brought up discussing the Colts recently with a friend of mine. On the surface there would seem to be many advantages to this move, the most obvious is the relief it would provide to the Colts salary cap. They could use the additional funds this would free up to address the obvious holes on this team as well as make Luck an offer that may offset the dissatisfaction he would feel from setting on the bench for 2-3 years. And not that Manning needs it, but imagine what this act would also do for his legacy. Heck they'd put up statues of him in Baltimore! Johnny who?
It may be the only way to have the win/win situation that everyone is dreaming about. Manning with the talent on a team to win a championship now, and Luck for the future of the franchise. Peyton, are you listening?
I realize that this is so much easier said than done, but like the title of this posts implies, if it were me I think I'd at least attempt it. You see, I'm used to sacrifice. I did 20 plus years in the Army as an enlisted man, retired in 2005, and I'm writing this post on Thanksgiving evening from northern Afghanistan where I'm finishing up a 6 month tour as a civilian deployed with America's finest.