Following a prolonged decision-making process, ESPN and the NFL Network are reporting that Peyton Manning has begun contract negotiations to join the Broncos.
ESPN is reporting that Peyton Manning has instructed his agent Tom Condon to begin contract negotiations with the Denver Broncos.
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Adam Schefter reported on twitter: "Peyton Manning will become the next quarterback of the Denver Broncos, barring unexpected snag in contract talks."
Manning's new contract with the Broncos has been speculated to be in the range of 5 years and $95 million, with an emphasis on the first three years of the contract. Any contract will likely also include a clause protecting the Broncos from the re-emergence of Manning's neck issues.
'Tebow Time' is also apparently over in Denver. The report says that with Manning coming to Denver, the Broncos will try to trade QB Tim Tebow and have already begun that process.
The Broncos seem to be the clear winner following an extended free agency decision-making process, emerging from a pack of suitors which included the Tennessee Titans, San Francisco 49ers, Arizona Cardinals and Miami Dolphins, among others.
Quiet in free agency thus far, the Broncos are now free to build the rest of their team around Manning, and will presumably look into signing other ex-Colt free agents Center Jeff Saturday, Tight End Dallas Clark, and Running Back Joseph Addai.