Source: Peyton Manning, Indianapolis Colts to Officially Part Ways

The Indianapolis Colts have decided that Peyton Manning will not be a part of the roster next year.

News breaking from ESPN shortly after 5 p.m. CT stated that the Colts will be “parting ways with Peyton Manning after 14 seasons.”

Manning will be 36 years old at the start of this season, and is coming off multiple neck surgeries.

While video has surfaced recently of Manning throwing at Duke University, it apparently is not up to the standards owner Jim Irsay wished to see.

The Colts are likely to use the No. 1 overall pick in this year’s draft to select Stanford QB Andrew Luck as Manning’s replacement. While there was speculation that Indianapolis would keep both players on their roster in order to groom Luck for the future, it is clear now that Luck will be the man come Week 1.

Manning has drawn interest from the Miami Dolphins, New York Jets, Cleveland Browns and Washington Redskins for his services in the upcoming season. Teams will most likely begin to add their names to that list now that Manning will officially become a free agent.

Manning has been medically cleared for play in 2012, however, health has to be an issue for anyone who is willing to take a chance on him. I believe whoever does sign him will do so with a heavily incentive based contract in order to protect their interests.

The official announcement will take place tomorrow. One thing is for sure, this day will be remembered as the end of an era in Indianapolis.

Have the Colts made the right move? What are your thoughts? Leave a comment below. Follow Brandon Wheeland on Twitter @BrandonWheeland.