Colts Will Release Peyton Manning, According To Report - SBNation.com. It's reminiscent of when the Green Bay Packers traded Brett Favre, but it's also not.
The Packers had some control over that situation. They were able to choose which team (i.e. not the Vikings) he played for in 2008, and they got a draft choice in return (which they traded away the following April to move up and select Clay Matthews).
The Colts don't have any control over the situation, unless they want to pay a $28 million bonus to Peyton Manning for that same level of control and a mid-round draft choice. There's no way those two things are worth $28 million.
I'm doubtful he'll ever be the same again. There's conflicting reports about his arm strength, unless you can tell from this grainy video. If he can bounce back, he might have two or three seasons left in him before his body wears out.
I'd rather have a young, franchise quarterback like Andrew Luck instead, but not every team is going to have that choice. Some teams will be better off with a future Hall of Fame quarterback who's got a little left in the tank.