AP Source: Manning to Broncos deal is done

AP Source: Manning to Broncos deal is done

DENVER (AP) — The big deal is done. Peyton Manning is a Denver Bronco.

A person familiar with negotiations says that Manning and the Broncos completed his five-year contract worth about $96 million on Tuesday morning.

The person spoke on condition of anonymity because Manning is to be introduced at a news conference at Broncos headquarters later.

The agreement ends a wild chase for perhaps the most valued free agent in the history of the NFL, a quarterback who has won an unprecedented four league MVP awards and took the Indianapolis Colts to a Super Bowl victory in 2007.

It also represents a huge coup for Broncos executive and Hall of Fame QB John Elway, and could spell the end of the Denver career of Tim Tebow, last year’s quarterbacking sensation.