Coming out of the 2011 season and into 2012’s, no one thought the Peyton Manning of old would ever return. After one neck surgery, the expected caution exhibited by fans and pundits alike would have existed. But four? How good could someone be after an injury and subsequent surgeries to such a fragile part of the human body?

And in the first five weeks, it looked like Manning’s game would never be the same. He showed flashes, but lacked the trademark power and zip in the season’s first stage, recording wins against the average Pittsburgh Steelers and hilariously awful Oakland Raiders, falling to the league’s cream in Atlanta, Houston and New England.

It took five-and-a-half games and a near beat-down against the Chargers for the Manning of old to return. And when he did, he eviscerated San Diego en route to a 24-point and career comeback. He transformed an entirely new team to his personality, truly turning Denver into 2000s Colts West.

For that latter-most reason, not the “return from injury” narrative, Manning is the NFL’s Most Valuable Player.

The transformation of the Broncos from its 2011 Tim Tebow iteration to 2012 and Manning is jarring and nothing short of amazing. One year ago, Denver could not pass the ball seriously. It was a joke. This year, Manning will fall just short of doubling the amount of passing yards the ’11 Broncos had, in addition to aiding Demaryius Thomas and Eric Decker’s evolution into Pro Bowl caliber wideouts.

He legitimately makes his team better. And with the best offensive line of his career, keeping Manning upright has allowed him to pick apart defenses, pacing the ol’ vet for the highest completion percentage of his career.

But no single stat will prop up Manning’s campaign more than the following two. According to Football Outsiders’ metric DVOA, Denver is the second-best team this year with the second-best offense, compared to the 24th and 23rd a year ago, respectively. Tebow’s 8-8 Broncos overachieved, winning a whole win above their expected value due to the myriad close games they won. Conversely, as of now, Manning’s 12-3 Broncos have underachieved, posting a point differential of a team expected to have 13.7 wins after 15 games. Though Manning’s arrival cannot be the sole cause for an estimated seven-win improvement, he is the primary one.

Yes, he does not directly influence the defense. Von Miller's improvement and Jack Del Rio's deft playcalling are reasons for the unit's stark improvement, as well as diamond-in-the-rough players such as Wesley Woodyard, Chris Harris and Tony Carter. But when Manning and the offense jump out to a lead, it allows Del Rio to take the collar off Miller and Elvis Dumervil, permitting them to run rampant.

To put it in simple, non-stat head terms: Manning changed Denver from lucky playoff participant to legitimate Super Bowl contender in the course of an offseason and 15 games.

With respect to Adrian Peterson, whose cyborg knees are and near 2,000-yard season are nothing short of jaw-dropping, an elite running back is not as important to a team as an elite quarterback. And there’s a very real possibility Minnesota will miss the postseason. While the definition of “most valuable” is intentionally vague, can someone really be the most valuable player on a team picking in the first two-thirds of April’s draft and sitting on his couch during January? Maybe. But looking at past MVPs, which have mostly been QBs, the last two running backs were Shaun Alexander and LaDainian Tomlinson, both of whom broke the single-season touchdown record as a cog on a contender. Peterson can beat Eric Dickerson’s record, but is Minnesota a contender? Hardly.

Not to diminish Peterson’s greatest season, beginning 2012 less than a year removed from an ACL tear, but that should have no bearing on MVP – even though it surely will, as will Manning’s neck. But the real case is in the numbers and team performance. Tom Brady and Aaron Rodgers are worthy candidates, too. There is no doubt. But to lead a mess of a team like Denver was last year to a first-round bye is nothing short of astounding.

And that is why, in 2012, Peyton Manning’s value exceeds that of his contemporaries.

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