INDIANAPOLIS (AP) -- A person with knowledge of the decision says barring a last minute change of heart, the Colts are expected to announce Wednesday that they will part ways with star quarterback Peyton Manning.
The person spoke to The Associated Press on condition of anonymity Tuesday night because the team wasn't ready to make an official announcement.
The Colts scheduled a noon news conference for Wednesday without giving details.
Indianapolis is expected to release the four-time MVP and Super Bowl winner rather than pay him a $28 million bonus, making him a free agent.
Manning's impending departure was first reported by ESPN earlier Tuesday.
In the past he has said his goal was to play his entire career with the Colts, but a damaged nerve that forced him to have neck surgery kept him out of action for all of 2011.