2012 NFL Draft: Indianapolis Colts' Strategy Depends on Peyton Manning's Health

The Indianapolis Colts completed a nightmare-ish 2011 season on Sunday, with a 19-13 loss to the Jacksonville Jaguars. They ended a streak of nine-straight years with at least 10 victories, which is a resounding thud, as the team finished the season at a dismal 2-14.

This fiasco can almost be entirely attributed to the loss of quarterback Peyton Manning, who after not missing a start in his first 13 seasons in the NFL, was sidelined for the entire 2011 campaign after a pair of surgeries to repair a neck injury.

The Colts also locked up the first pick in the 2012 NFL Draft with today's loss. Also with the presumptive first choice in that draft being Stanford quarterback Andrew Luck, the Colts are faced with an interesting dilemma that's intertwined with Manning's injury and recovery.

Manning, who began throwing the ball again a couple weeks ago, is due a $28 million option bonus in March (which the Colts will almost certainly either pay or renegotiate).

If the Colts have any concerns about Manning's long-term health (which would seem reasonable given that he's 35) they realistically have no choice but to use the pick on Luck.

At that point, the Stanford star could serve as Manning's understudy for a year or two. There are certainly worse ways for a youngster to learn how to play quarterback in the NFL, than from a future Hall of Famer who is one of the most cerebral signal-callers in NFL history.

Or, Indianapolis could go a route that would have been considered inconceivable a year ago, dealing Manning to another team for players or picks, using those to address needs on defense and the offensive line, while throwing Luck into the fire off the get.

However, if the Colts front office is completely confident that Peyton Manning can give the team two or three more years of elite play there is a third option.

Deal the rights to the first overall pick for a package of draft selections, allowing the team to fill other holes and potentially make one more run at a championship.

However, it all plays out to the health of Peyton Manning that is sure to be even more hotly scrutinized over the next couple of months than it was previously.

While Colts' fans finally get to put a disappointing 2011 season to rest, the uncertainty and angst that accompany it will likely linger for at least a few more months.