Peyton Manning is no longer a member of the Indianapolis Colts.
The team announced Wednesday it has released the four-time NFL MVP, meaning the quarterback will become a free agent likely pursued by the Jets, among others.
“We’re here to announce the conclusion of Peyton’s playing career with the Colts,” owner Jim Irsay said at a news conference attended by Manning. “We’re here very much as well to honor all of the incredible memories and incredible things that Peyton has done.”
Irsay, who became choked up several times during his statement, said due to the Colts’ current salary cap situation and the team’s rebuilding state, the decision to release Manning was “unavoidable.”
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“This process has been a long, difficult process,” Irsay said. “I know Peyton and I have had numerous conversations over the months and we always kept trying to come back to the circumstances that were before us. We tried to put each other in each other’s shoes and realize what the situation was for the franchise, what it was for Peyton, and in the end the circumstances were too difficult to overcome.”
Manning, who struggled to fight back tears, thanked Irsay and the Colts as well as the city of Indianapolis, but said “nothing lasts forever.”
“I’ve been a Colt for almost my entire adult life, but as we all know in life, and in sports, nothing lasts forever,” Manning said. “I sure have loved playing football for the Indianapolis Colts. It truly has been an honor to play in Indianapolis. I do love it here, I love the fans, I will leave the Colts with nothing but good thoughts and gratitude. I truly have enjoyed being your quarterback.”
The announcement brings to an end the saga surrounding Manning and whether or not he would play in Indianapolis this season. Manning has played for the Colts for his entire 14-year career and is the franchise’s leader in wins (141), completions (4,682), yards (54,828) and TDs (399).
“I know in my heart and the hearts of our fans [Manning’s accomplishments are] unparalleled for the Colts,” Irsay said. “The No. 18 jersey will never be worn again by a Colt on the field. There will be no other Peyton Manning.”
The Colts needed to make a decision on Manning before Thursday, when the soon-to-be 36-year-old was due a $28 million signing bonus. Manning missed the entire 2011 season recovering from a neck injury that required four surgeries.
“In the end, before we ever go into any specifics, it’s never been about money,” Irsay said. “It’s never been about those type of things.”
Indianapolis owns the first selection in next month’s NFL Draft and is expected to pick Stanford QB Andrew Luck, something that likely factored into the team’s decision to release Manning.
Manning and Irsay each maintained the difficult dialogue was open throughout the entire process.
“Jim and I have spoken extensively, about where we are today, and our conversations have led both of us to recognize that the circumstances make it best for us both to take this next step.” Manning said. “This has not been easy for Jim and it certainly has not been easy for me.”
For Manning, his release marks the the first time he will be forced to explore the uncertain waters of free agency.
“I am confident; I don’t know what these next steps are, this is all kind of new to me,” Manning said. “I’ve always known what the month of March is for an offseason. This is uncharted territory for me.”
Despite not knowing which team he will play for this season, Manning was adamant he was not ready to call it a career.
“I don’t want to retire,” Manning said. “Nobody loves their job more than I do, nobody loves playing quarterback more than I do.”
If Manning does join the Jets, it has been suggested that Mark Sanchez could sit behind him for two seasons.
A team source said the Jets will make a play for Manning, despite Sanchez entering his fourth year as the team’s starting quarterback, assuming Manning is healthy enough to play.
“I’m throwing it pretty well, I’ve still got some work to do, some progress to make,” Manning said. “I’ve come a long way. I can’t tell you the hours and the time I’ve put in to working hard. I really enjoy being back out there.”
The Dolphins, Redskins, Seahawks, Chiefs and Cardinals are rumored as potential landing spots for the biggest free agent on the market.