Of course, the $28 million question is whether or not he will be able to come back and resemble the dominant QB we have come to expect.
While he has been given medical clearance to play, the looming question is whether or not he will have his arm strength back.
It is appearing more and more likely that Peyton will not be back with the Colts. If Indianapolis decides to part ways with the QB, he will be a free agent.
If he can demonstrate to the Cardinals that he can throw the ball with authority, then they should do everything in their power to sign him. And it looks like they may be prepared to do just that.
ESPN's football insider Adam Schefter went on Mike and Mike in the Morning and talked about the Cardinal's interest. Adam Green of Arizona Sports quotes Schefter from the radio show.
Arizona is expected to be in on Peyton Manning. They have done due diligence.
Schefter is a reliable reporter with good sources. There is a chance that someone planted this rumor and it is false, but there is an even better chance that it is legit.
Impact on the Cardinals
If these rumors are true, it demonstrates that the Cardinals are prepared to move on from QB Kevin Kolb. Kolb has a $7 million option bonus due in March. Don't be surprised if the Cardinals decide to part ways with Kolb.
Now, if they do make a run at Manning, they have an ideal situation to offer him. This is a young team, that really turned it on at the end of this past season. They won seven of their last nine games. They are clearly a team on the rise.
Arizona would also offer Peyton the chance to play with one of the game's premier wide receivers in Larry Fitzgerald, and a dynamic back in Beanie Wells.
The Cardinals also play in a dome, which is a familiar setting for Manning.
Arizona came on strong at the end of the year, and the majority of that success came with John Skelton at QB. He finished the year with a 68.9 QB rating.
This would be a dangerous team with a Peyton Manning that is anywhere near as effective as he was the last time we saw him on the field.