The four-time MVP will have to find a new place to play in 2012 or retire (Creative Commons/Jeffrey Beall).

Manning was owed a $28 million bonus had Colts owner Jim Irsay not made a decision by an original deadline of March 8, which was extended. The Colts possess the No. 1 overall selection in the 2012 NFL Draft and will assuredly take former Stanford QB Andrew Luck or Heisman-winner Robert Griffin III of Baylor.

Manning, a four-time MVP, has undergone three four neck surgeries, the latest on Sept. 8. It is still unclear whether he will be able to regain full arm strength and be in prime shape to endure another few NFL seasons, despite a video surfacing of him throwing (see below).

There are a few times that would certainly want Manning’s services if he is healthy, notably, the Washington Redskins and Miami Dolphins among others. While it is unfortunate that Manning, arguably the greatest quarterback of his generation, will not be able to stick to one team his whole career, the situation between him and Irsay became heated after the pair traded words through public statements -- Irsay called Manning a “politician” for not handling the in-house matter privately.

Each side will be able to move on with the next part of their respective stories -- Manning signing with a new team or retiring and Irsay drafting a new franchise quarterback -- and that is probably for the best.

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