5:23 PM EST, February 10, 2011
A new contract or not, Peyton Manning will be playing football wearing an Indianapolis Colts jersey in 2011.
News spread Thursday that if the Colts don't come to terms for a contract before the collective bargaining agreement expires on March 3rd, Indianapolis will place a franchise tag on him that will keep him in a Colts jersey at $23 million for the 2011 season. If the franchise tag is placed on Manning, he will not be able to pursue other options.
This would be a second time that the franchise tag has been placed on Manning, who in 2004 had the tag placed on him before the Colts came to terms with a seven-year, $98 million dollar contract.
If the Colts were to pursue this option, they will have until February 22 to do so.