
Before his first formal workout with the Broncos, quarterback Peyton Manning was throwing passes to receivers Erick Decker and Brandon Stokley at Denver-area high schools. (Associated Press)

** FILE ** In this Sept. 26, 2010, file photo, Indianapolis Colts quarterback Peyton Manning (18) greets Denver Broncos quarterback Tim Tebow (15) at an NFL game, in Denver. (AP Photo/Greg Trott)

associated press Quarterback Peyton Manning (left) and Broncos vice president John Elway show off Manning's new jersey during a news conference at team headquarters in Englewood, Colo. Manning agreed to a five-year, $96 million contract.

** FILE ** In this Dec. 11, 2011 file photo, Denver Broncos quarterback Tim Tebow prays in the end zone before the start of an NFL game against the Chicago Bears, in Denver. Peyton Manning has joined the Broncos. The addition of Manning could well lead to Denver trading Tebow, even though the popular QB energized the Broncos in leading them to the playoffs last season despite some uneven play. (AP Photo/Julie Jacobson, File)

New Denver Broncos quarterback Peyton Manning, center, is flanked by Broncos owner Pat Bowlin, left, and vice president John Elway during a news conference at the Broncos headquarters in Englewood, Colo., on Tuesday, March 20, 2012. (AP Photo/Ed Andrieski)

**FILE** Indianapolis Colts quarterback Peyton Manning (18) greets Denver Broncos quarterback Tim Tebow before the Colts' 27-13 win in Denver on Sept. 26, 2010. (Associated Press)

NFL football quarterback Peyton Manning, right, leaves the offices of the Tennessee Titans with Titans head coach Mike Munchak, front left, Wednesday, March 14, 2012, in Nashville, Tenn. (AP Photo/The Tennessean, Sanford Myers) NO SALES

Quarterback Peyton Manning pays a visit to the Arizona Cardinals Training Facility in Tempe, Ariz., Sunday March 11, 2012. Manning is searching for a new team. (AP Photo/The Arizona Republic, Cheryl Evans)

Quarterback Peyton Manning is the biggest free agent on the market this NFL offseason. (Associated Press)