NFL Breaking News: ESPN Reports That Peyton Manning Will Sign with Broncos

Jason S. PariniCorrespondent IIMarch 19, 2012

DENVER - SEPTEMBER 26:  Quarterback Peyton Manning #18 of the Indianapolis Colts and quarterback Tim Tebow #15 of the Denver Broncos meet at midfield after the game at INVESCO Field at Mile High on September 26, 2010 in Denver, Colorado. The Colts defeated the Broncos 27-13  (Photo by Doug Pensinger/Getty Images)
Doug Pensinger/Getty Images

According to an ESPN report, Peyton Manning will play for the Denver Broncos in 2012.  ESPN's Chris Mortensen first reported the news, saying that Manning phoned the other teams involved in the pursuit this morning.  He also said that Manning has instructed his agent to open negotiations with the Broncos.  

Adam Schefter reported moments ago on SportsCenter that Manning "felt in his head that he should play for the 49ers, but felt in his heart that he should play for the Broncos."  Schefter said that the details of the deal had not been finalized, but that Broncos vice president of football operations John Elway had already worked out the basis of a fair deal weeks ago.

Schefter also reported that the Broncos will now attempt to trade quarterback Tim Tebow, but no specific teams were mentioned.  He also confirmed that Manning will be the starting quarterback, regardless of whether or not they successfully trade Tebow.

Mortensen says that Manning and Elway discussed a five-year, $95 million contract on March 9.  Barring any last-minute snags, Manning will be flying out to Denver shortly for an introductory press conference.  Denver has not yet confirmed any information.