Peyton Manning cut by Colts

INDIANAPOLIS, March 7 (UPI) -- Quarterback Peyton Manning, the face of the Indianapolis NFL franchise for 14 seasons, was cut by the Colts Wednesday.

Manning and Colts' owner Jim Irsey appeared at a news conference Wednesday to announce the roster move. The decision comes after Manning missed the entire 2011 season because of neck surgery and near the point when the Colts would have to pay the quarterback $28 million if he was on the roster.

"For 14 wonderful years, the only pro football I've known if Colts football," Manning said.

"My team won a lot of games here … Times change, circumstances change and that's the reality of playing in the NFL."

He has expressed an interest in playing next season but didn't indicate a team preference. He would be a free agent.

Manning, who turns 36 this month, was the first overall selection of the 1998 draft. He was selected to the Pro Bowl 11 times and was voted the NFL most valuable player four times. He was also the most valuable player in Super Bowl XLI, when the Colts beat the Chicago Bears 29-17.

Until a series of neck injuries kept him off the field last year, Manning had started 208 consecutive regular-season games. He has passed for nearly 55,000 yards and 399 touchdowns, figures that are both third on the NFL all-time list.

Irsay admitted that Manning "meant so much to the organization, the city of Indianapolis, the state if Indiana and Colts' fans worldwide" and he said Manning's jersey No. 18 "will never be worn against by a Colts' player on the field."

Indianapolis is turning a corner. The Colts will have a new general manager, a new coach and now a new quarterback next season.

They also have the No. 1 overall draft pick this spring -- with two quarterbacks considered prime choices -- after a season in which Indianapolis lost its first 13 games and wound up 2-14 on the year.