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INDIANAPOLIS (AP) — Colts owner Jim Irsay says the team is releasing quarterback Peyton Manning after a 14-year run that included one Super Bowl title and four MVP awards.
Irsay and Manning are appearing together Wednesday at a news conference at the Colts’ team complex to announce the move.
The 35-year-old Manning will become a free agent, and there is expected to be interest from a half-dozen or so NFL clubs, provided he’s healthy. Manning is coming off a series of operations to his neck and missed all of last season.
Indianapolis needed to cut him this week to avoid paying him a $28 million roster bonus he would’ve been owed if he was still on the roster Thursday. The Colts are widely expected to begin moving on by taking Stanford quarterback Andrew Luck with the No. 1 overall pick in April’s draft.