ESPN’s Chris Mortensen reports that the Colts have officially decided to let go of QB Peyton Manning. An official announcement is expected Wednesday. Despite recent rumblings that the team was considering hanging on to the future Hall-of-Famer, there was no way owner Jim Irsay was going to cough up that $28 million bonus to a 35-year-old with a bum neck. Manning will now hit the open market as the highest profile free-agent in recent memory – and maybe ever. The Cardinals, Dolphins, and Redskins have emerged as the 3 favorites to land him, but don’t be surprised if other teams enter the mix.
