Broncos president Joe Ellis told ESPN's Sal Paolantonio that linebacker DeMarcus Ware also got choked up when addressing the team.
"Both were very emotional and near tears," Ellis told Paolantonio. "Peyton told a few jokes to lighten the mood, but then he got very emotional (when talking about what the game meant to him). And so did DeMarcus. The room was silent. It was a very emotional gathering."
Ellis said Broncos head coach Gary Kubiak addressed the team first, telling the players what Sunday's game against the Carolina Panthers meant to him.
"He told them he loved them," Ellis said.
According to ESPN, Manning did not tell the team whether this would be his last game.
"I don't think it's going to be (immediate) announcement Sunday night," Eli Manning said. "I don't think he's even thought about it. He'll take some time when the season is over. It's all football right now."