Peyton Manning Rumors: Latest News and Updates on QB's Situation

Austin PorterCorrespondent IIIFebruary 27, 2012

INDIANAPOLIS, IN - JANUARY 08:  Quarterback Peyton Manning #18 of the Indianapolis Colts looks on during warm ups against the New York Jets during their 2011 AFC wild card playoff game at Lucas Oil Stadium on January 8, 2011 in Indianapolis, Indiana.  (Photo by Andy Lyons/Getty Images)
Andy Lyons/Getty Images

The pivotal March 8 deadline looms large for the Indianapolis Colts and owner Jim Irsay. 

It is on that date that quarterback Peyton Manning is set to receive his $28 million roster bonus. Assuming Manning refuses a pay cut, Irsay must choose between cutting his franchise superstar or keeping Manning on board and seriously putting a damper on the team's cap space.

Meanwhile, future franchise quarterback Andrew Luck tore it up at the NFL Scouting Combine over the weekend, all but assuring his fate as the No. 1 pick in the 2012 NFL draft.

Oh, and do we have another contender emerging from the pack in Kansas City?

All these factors are at play and more as we take a snapshot of the latest on Manning and the Colts.


Injury update

With every day comes signs that Manning will be set to go come opening weekend of the 2012-13 NFL season. 

On Feb. 2, the former Tennessee Volunteer was cleared to play, helping to put to bed any rumors of a possible retirement.

Teams now have confidence that any investment in the future Hall of Famer will result in Manning suiting up in some form or fashion.

However, the risk remains high for any franchise willing to roll the dice. While Manning is cleared, his injuries' effects on his on-field performance is yet to be gauged and will ultimately determine his value for next fall.



Regardless of the strenuous cap situation in Indianapolis, Manning will not and should not take a pay cut to remain on the roster.

Why would he do so knowing Luck will soon push him out the door? Also, talent surrounding any quarterback for the 2012-13 Colts will be sorely lacking regardless.

Manning will stay put and force the hand of Irsay on March 8. I eventually expect the two sides to cut bait, leaving a future Hall of Fame with lots of football in the tank to be on the open market in a league desperate for help at the quarterback position.


New suitor?

Kansas City Chiefs coach Romeo Crennel interestingly stated that his team would be interested in acquiring Manning this offseason on Saturday at the NFL combine.

Dancing around the NFL's tampering regulations, Crennel said that he'd personally be "crazy not to consider it if he were available."

The quarterback position is strenuous at best in Kansas City, what with the inconsistency of Matt Cassel ever present for the Chiefs.

A 35-year-old Hall of Fame signal-caller could be the best medicine for a promising Chiefs team that won the division just one year prior to an injury-plagued 2011-12 campaign.

The Chiefs will undoubtedly not be without competition for their newfound target. Rumors will continue to swirl around the league regarding one of history's greatest potential free agents.

While a team like the Seahawks, Redskins or Dolphins will surely be at play, I would not be surprised if a team comes out of the shadows to land Manning.

A team no one saw coming, like the Chiefs.

We shall see, as anything goes in the ever-evolving Peyton Manning saga.