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The Denver Broncos have confirmed the signing of quarterback Peyton Manning, considered one of the most valuable free agents in the history of the NFL.
Manning, who turns 36 on Saturday, has agreed a deal worth a reported $96million over the next five years. He chose Denver after also talking with the San Francisco 49ers and Tennessee Titans.
The Super Bowl-winning quarterback was cut at the end of last season by the Indianapolis Colts, who would have otherwise owed him a $28million contract bonus after a season in which he failed to appear at all while battling a serious neck injury.
He has already passed a medical with Denver.
"The opportunity to acquire a future Hall of Fame quarterback like Peyton Manning was one that we could not pass up," Executive Vice President of Football Operations John Elway told the club's website.
"Adding a player of his calibre immediately improves our team. I believe he has many good years left as an elite quarterback, and this acquisition moves us closer to our ultimate goal of winning another Super Bowl.
"Peyton's accomplishments in the NFL have been well-documented. Simply put, he is an incredible talent who is one of the best to ever play the game. This is a great day for our organisation, and we are excited to welcome Peyton Manning and his family to the Denver Broncos."
Manning, a four-time NFL MVP, won the Super Bowl with the Colts in 2007 and holds numerous NFL records.
He had spent his entire career with Indianapolis since being drafted out of Tennessee in 1998.
His arrival is likely to see young Denver quarterback Tim Tebow, who led the team to some electrifying wins last season but divided opinion with his unorthodox play, traded.