Report: Peyton Manning to be released on Wednesday

1998: PEYTON MANNING, QB, Indianapolis Colts Let's not

1998: PEYTON MANNING, QB, Indianapolis Colts
Let's not waste everyone's time spelling out just how good a quarterback -- and commercial pitchman -- he is.
Impact: Hit
(Credit: AP)

The Peyton Manning era in Indianapolis is about to end. 

The Colts will release Manning and make the announcement at a news conference tomorrow in Indianapolis, according to Chris Mortensen of ESPN.  A source familiar with the Colts' situation confirmed the report. 

The news is hardly a shock, considering Manning is due a $28 million roster bonus on Thursday. Even so, it's still jolting to know that his Hall of Fame career with the Colts is over. 

Manning, who turns 36 on March 24, played 14 seasons and won one Super Bowl during his time with Indianapolis. He was their No. 1 in the 1998 draft, and never missed a game until the 2011 season. He didn't play at all last year after undergoing four neck surgeries over the past two years. 

The Colts are now expected to draft either Stanford quarterback Andrew Luck or Baylor's Robert Griffin III with the first overall pick in this year's draft, set for April 26. The Colts went 2-14 in 2011 to get the top pick. 

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