The biggest free agent signing of the 2012 NFL offseason appears to be coming to a close. Peyton Manning will reportedly be the new quarterback of the Denver Broncos, according to ESPN’s Adam Schefter and Chris Mortensen.
“Peyton Manning will become the next quarterback of the Denver Broncos, barring a snag during intensified contract negotiations that have commenced under the instruction of the four-time MVP to his agent Tom Condon, according to multiple sources.
“Once the Manning deal becomes official, Denver will try to trade Tim Tebow, according to sources.
“Manning instructed Condon to negotiate the finite details of a contract that would conclude with him joining the Broncos after a frenzied but focused process that began when the Indianapolis Colts released him March 7.
“A contract between the two sides is expected to be a formality. Broncos vice president of football operations John Elway and Manning first discussed the parameters of a five-year, $95 million contract during their March 9 meeting in Denver, the first time the former Indianapolis Colts quarterback visited a team during his free agency.”
This is a breaking news update. Check back frequently as more information becomes available.