Peyton Manning's Agent on Contract Negotiations: 'Nothing's Imminent'

INDIANAPOLIS -- Peyton Manning and the Colts still want to reach a new contract agreement sooner rather than later.

But the reality remains it will probably be later.

Less than a week remains before the NFL's Collective Bargaining runs out, after which players and teams may not negotiate until a new CBA is reached. The Colts and Manning's agent, Tom Condon, each said a deal does not appear close.

"We're having conversations so that's a positive," Tom Condon, Manning's agent, told The Associated Press at the 2011 NFL Scouting Combine. "But I would agree with (Colts Vice Chairman Bill Polian) that nothing's imminent."

Polian had said as much Wednesday.

The Colts two weeks ago made Manning an exclusive franchise player to keep him from becoming a free agent. In that scenario, Manning will make $23 million next season, but the NFL and the Players Association are in disagreement over the viability of the franchise tag system.

"The players association and the management council have different interpretations about whether you can franchise any player," Condon said. "We really don't know what it means, and the players don't recognize the tag."

The CBA is scheduled to expire March 3.

"Certainly it would be nice to have it done by then," Condon said. "But I don't think there's any real urgency."