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DENVER (AP) — The big deal is done. Peyton Manning is a Denver Bronco.
A person familiar with negotiations says that Manning and the Broncos completed his five-year contract worth about $96 million on Tuesday morning.
The person spoke on condition of anonymity because Manning is to be introduced at a news conference at Broncos headquarters later.
The agreement ends a wild chase for perhaps the most valued free agent in the history of the NFL, a quarterback who has won an unprecedented four league MVP awards and took the Indianapolis Colts to a Super Bowl victory in 2007.
It also represents a huge coup for Broncos executive and Hall of Fame QB John Elway, and could spell the end of the Denver career of Tim Tebow, last year’s quarterbacking sensation.
Turns out Tebowmania may have just been a fad in the Mile High City.
ESPN and the NFL Network first reported on the completion of the Manning deal.
Manning called Elway on Monday and told him that he had chosen Denver over the Tennessee Titans and San Francisco 49ers, his other final picks. The Broncos and Manning’s agent then hashed out the contract details.
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