Peyton Manning: All-in Gamble by Miami Dolphins Could Backfire Big Time

Now that quarterback Peyton Manning has officially been released by the Indianapolis Colts, the Miami Dolphins are reportedly ready to pull out all the stops to acquire the four-time NFL MVP.

If the Dolphins are serious about an all-or-nothing gamble on Manning at the expense of exploring the possibility of signing Green Bay Packers backup Matt Flynn, then this gambit may be another risky proposition that blows up in owner Stephen Ross' face.

The Dolphins have been mentioned as one of the leading candidates to procure the services of the 11-time Pro Bowl signal-caller. As Jason Cole of Yahoo! Sports reports, Miami is focusing all of its attention on making a pitch that will bring Manning to South Florida.

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As for the Dolphins, the team has yet to express remote interest in free-agent quarterback Matt Flynn so far, even though Flynn just finished playing for new Miami head coach Joe Philbin. A team source said that’s because Ross has told general manager Jeff Ireland to put the full-court press on Manning.

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Ross has been known to develop "tunnel vision" in the past, and in those instances that lack of a fall-back plan has left the Miami owner with egg on his face. This is apparent in his failed attempts to hire head coaches Jim Harbaugh and Jeff Fisher, who both spurned the Dolphins in favor of other locales.

It's a very real possibility Manning could do the same, and if the Dolphins don't at least use due diligence with Matt Flynn by testing the waters, they could find themselves scrambling to add a quarterback. The team has already sent Chad Henne packing and made it clear that Matt Moore is at best headed back to the bench, according to the Sun Sentinel's Omar Kelly.

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Dolphins owner Steve Ross has made it very clear he'll get [a quarterback] this season. Miami has already dumped Chad Henne and told Matt Moore he's not good enough. The Dolphins have spent the last month trying to identify who is, and formulating a plan to land him.

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Should the Dolphins miss out on both Manning and Flynn, that may well send Miami into a panic-induced attempt to trade up in April's NFL draft and select Baylor quarterback Robert Griffin III. Many teams are interested in that pick as well, and teams such as the Washington Redskins and Cleveland Browns may well be more able or willing to outbid the Dolphins for the St. Louis Rams' second overall pick.

Peyton Manning is a mortal lock as a first-ballot Hall of Fame quarterback. If he's healthy (which remains an 800-pound gorilla of an "if") it's absolutely reasonable for Stephen Ross to be enamored with the idea of signing him.

However, in a National Football League where there are no guarantees, it's probably not wise for Ross to put all the Dolphins' eggs in one basket.

He might just find himself sitting in the owner's box on opening day staring down at Kyle Orton warming up and wondering what the hell happened.

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