Per ESPN.com's Chris Mortensen, Peyton Manning will be released Wednesday by the Colts: The announcement will come at a press conference in Indianapolis on Wednesday. The decision to pass on the $28 million bonus owed Manning and not to pick up the four remaining years on his contract means Manning will become a free agent, and sources say that he intends to continue to play.

This shouldn't be surprising given everything stacked against Manning, but it's still startling to see it in print. On another note, we received an e-mail from a reader the other day with 10 reasons why the Vikings should go after Manning. Feel free to debate that logic in the comments.