Reports: Manning, Colts to part ways

INDIANAPOLIS (WISH) - The Indianapolis Colts and long-time quarterback Peyton Manning are expected to announce they are parting ways in a news conference scheduled for Noon Wednesday.

An article on ESPN's website cites a source close to the team who told Chris Mortensen that the announcement would be made at a news conference Wednesday.

When reached for comment by WISH-TV Sports Director Anthony Calhoun, the Indianapolis Colts had no comment.

USA TODAY, however, corroborated the report, citing Manning's older brother, Cooper. An article on the national newspaper's website says Cooper told them Peyton is "going through kind of an emotional time right now."

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Jim Irsay's private jet landed at the Indianapolis International Airport around 9:20 p.m. Tuesday. Both Irsay and Manning exited the plane and climbed into Irsay's waiting vehicle. The two briefly stopped to speak to the media.

"We're going to do this the right way," Manning said, "We'll talk to you guys tomorrow."

Irsay tweeted Wednesday morning, perhaps commenting on the flight.

"It was a long, emotional flight...now the sun is trying to rise," Irsay tweeted at 6:37 a.m.

Sources told 24-Hour News 8 that an announcement had been scheduled for noon Wednesday. You'll be able to watch it live on WISH-TV and wishtv.com.

According to the ESPN article, Lingering questions about Manning's health could not be answered before his $28 million option bonus was due on March 8.

It still remains to be seen whether or not Manning will be able to continue his career with another team. The article cites sources saying Manning intends to play again.

When reached for comment, former Indianapolis Colts head coach Tony Dungy told Anthony Calhoun that he was surprised by the news. 

Manning did not play a single snap in the 2011 season following a series of neck surgeries .

Bill Polian's decision to draft Manning over Ryan Leaf back on April 18, 1998 changed the landscape of Colts football forever.

Photos: Manning Playoffs and Super Bowls

Photos: Peyton Manning: Looking back

The team won just three games in Manning's first year, but he recorded one of the best seasons statistically by a rookie. It didn't take long for the young quarterback to turn things around. In his second season, Manning earned his first Pro Bowl trip after leading the Colts to an incredible 13-3 record and clinching the division title.

His career numbers in Indianapolis are staggering. During his 12 years as a Colt, Manning was selected to the Pro Bowl 11 times, won AFC Player of the Year six times, and was named league MVP a record-setting four times. Manning holds the franchise record for career wins (150), passing touchdowns (399), pass completions (4,682) and passing yards (54,828). He also holds NFL records for consecutive seasons with 4,000 or more yards passing in a career (11).

Up until the 2006-07 season, Manning's biggest criticism was his failure to win big games in the playoffs. The Colts flirted with a perfect season in 2005, before settling for a 14-2 record and the number one seed in the AFC playoffs. That run ended in a heartbreaking upset by the Steelers at the RCA Dome and after the loss, Manning seemed acutely aware of his postseason shortcomings.

"All I know to keep working, to come back next year and be a better quarterback, a better leader," Manning said. "You get tired of saying that after every playoff loss because pretty soon, you start running out of years."

But in 2006, Manning delivered and the Colts finally put it all together. After upsetting Baltimore on the road in the divisional round of the playoffs, the team rallied from an 18-point deficit to beat the Patriots in the AFC Championship Game. Manning then turned in an MVP performance in Super Bowl XLI as the Colts beat the Bears to bring home their first world championship since moving to Indianapolis.

No one will ever know for sure, but in what could be a tragic twist of fate, Manning's neck problems began to develop following the Colts Super Bowl season. During the Redskins game in October of 2006, he was tackled by Washington's Phillip Daniels. Manning's head was bent backwards and his helmet came off; it was that moment that many believe marked the beginning of the nerve issues in his neck.

In the summer of 2008, Manning underwent knee surgery and missed all of training camp. But he returned for the start of the season and went on to win his third MVP award. The next year, Manning earned his fourth MVP his second trip to the Super Bowl. But this time there was no storybook ending, as the Saints upset the Colts 31-17.

In 2010, Manning led the Colts to their ninth straight playoff berth. A wildcard game loss to the Jets at Lucas Oil Stadium ended up being his final game in a Colts' uniform.

Three neck procedures forced Manning to miss the entire 2011 season, snapping his consecutive starts streak at 208.

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Ashley Adamson, Patricia Gibson and Patrick Tolbert contributed to this report.