Peyton Manning Rumors: Latest Report Casts Disturbing Light on Manning's Future

Against all odds, the Peyton Manning situation keeps finding new ways to get even worse.

On Tuesday, Indianapolis Colts owner Jim Irsay effectively issued an ultimatum to the Indianapolis Star, saying that he wants to have Manning back, but only if he comes back at a discounted price.

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I want him to be able to make the choice. We would love to have him back here if he can get healthy and we can look at doing a contract that reflects the uncertainty of the. . . healing process with the regeneration of the nerve. 

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On Wednesday, Don Banks of SI.com dropped a bombshell of a report about an additional neck procedure Manning had that was previously kept out of the public eye. He's actually had four procedures done on his neck, not three.

As if three wasn't already bad enough.

The most troubling part of Banks' report wasn't the revelation of the fourth procedure, though. The truly troubling part is what Banks said could come next for Manning.

The Colts have two primary concerns. First, they think it is "nearly inevitable" that Manning will need to have further surgery on his neck at some point down the line. Second, the team is worried that Manning's condition may be a chronic problem that is hereditary. Manning's older brother, Cooper, had to give up his football career because of spinal stenosis.

Manning isn't dealing with that yet, but Banks' sources told him that "the likelihood of further complications increase with each new surgery [Manning] undergoes."

Even before Banks' report came out, there was a train of thought that the soon-to-be 36-year-old Manning should just hang up his spikes once and for all. Now that it is known just how dire his health situation is, retirement is an even more reasonable option.

Manning probably won't decide to go that easily, of course. He's made it pretty clear that he wants to keep playing, and it's well-known that he has been medically cleared to resume his NFL career (whatever that means). He also knows that he's going to have options if the Colts choose not to bring him back for 2012 and beyond.

If Manning wants to risk that, he's more than welcome. If some team out there wants to risk it with Manning, it's more than welcome. It's a free country.

But, given where his health has been and where it could go in the future, the logical conclusion to draw is that we've probably seen the last of the great Peyton Manning. If he continues to play, we're probably going to see a lesser Peyton Manning under center: an impostor.

I hope against hope that this isn't the case, but this is how things are shaping up. And alas, if the trend holds, this situation can only get worse.