Report: Colts Releasing QB Peyton Manning
INDIANAPOLIS (CBS) - The Indianapolis Colts will release quarterback Peyton Manning, according to a report from ESPN's Chris Mortensen.
The team will hold a press conference Wednesday to make the announcement, and both Manning and team owner Jim Irsay will be in attendance.
The Colts will be releasing Manning out of the last four years of his contract, which was due to pay him a $28 million roster bonus if he remained with the team beyond this week.
Now, he is a free agent.
Sources told Mortensen that Manning intends on continuing to play. He missed all of the 2011 season after undergoing a third neck surgery in 19 months, but never missed a start before that since entering the league in 1998.
The Colts carry the No. 1 pick in this April's draft and will likely draft Stanford QB Andrew Luck.
