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The decision to pass on the $28 million bonus owed Manning and not to pick up the four remaining years on his contract means Peyton Manning will become a free agent, and sources say he intends to continue to play.

The four-time league MVP missed the entire 2011 season after having his third neck surgery in 19 months, a fusion of two vertebrae. His doctors have medically cleared him to resume his career and Manning has increased his throwing regimen.

Manning has broken all of Indianapolis’ career records for quarterbacks and had never missed a start before last season. He’s taken the Colts to the playoffs 11 times, captured seven AFC South titles in eight years, won two AFC championships, one Super Bowl title and a Super Bowl MVP Award.

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