Colts, WR Wayne reach $40M 6-year deal

INDIANAPOLIS, Feb. 23 (UPI) -- The Indianapolis Colts have agreed to a six-year contract with wide receiver Reggie Wayne worth $40 million.

Wayne's agent David Dunn confirmed to the Indianapolis Star that the deal also includes a signing bonus close to $13.5 million.

In five NFL seasons, all with the Colts, Wayne has 304 catches for 4,164 yards and 28 touchdowns.

Wayne's contract also likely signals the end of Edgerrin James' tenure with the Colts, the Star said. The team has until Thursday afternoon to decide whether to designate the All-Pro running back as its franchise player for the second straight year, a move that now appears unlikely.

Pinning James with the franchise tag would give him a 2006 salary of almost $11 million and put the Colts well over the NFL salary cap, forcing the club would have to release several players to keep him.