POSTED: Monday, March 19, 2012 - 2:30pm
UPDATED: Monday, March 19, 2012 - 2:34pm
NBC NATIONAL NEWS — Peyton Manning appears to have settled on the Denver Broncos as his new team.
ESPN is reporting that Manning told his agent, Tom Condon, to begin negotiating a contract on a five year, $90 million deal.
This comes after the former Indianapolis Colt QB threw for Broncos VP of Operations John Elway and head coach John Fox on Friday.
Elway said Manning, "Threw the ball great and looked very comfortable."
He had also worked out for the Tennessee Titans and San Francisco 49ers.
Manning led his former team to the Super Bowl, but was let go earlier this month before the colts had to pay him a $28 million bonus.
If the Broncos sign Peyton Manning, hat will happen to their other quarterback, Tim Tebow?
Tebow could stay with the Broncos and take a back-up role to Manning's starting position, or he could be put on the trading block and made available to the rest of the NFL.
Tebow threw for 1,729 yards and 17 touchdowns last season, and had a quarterback rating of 75.1.