Report: Colts Will Release QB Peyton Manning

The Indianapolis Colts will cut 14-year NFL veteran Peyton Manning tomorrow, according to an ESPN.com report. The report says that the announcement will come Wednesday at a press conference.

Manning will become a free agent, and ESPN's Chris Mortensen is reporting that he still intends to play. Reports have indicated in the past month that his arm strength is returning and that his nerves had been properly healing. Manning missed all of 2011 after numerous neck surgeries.

In 13 seasons with Indianapolis, Manning compiled 54,828 yards and 399 touchdowns. He was the number one overall pick by the Colts in 1998, and has been a 4-time NFL MVP. In 2006, he led the Colts to a Super Bowl Championship, where he was named most valuable player.