After 14 years under center for the Indianapolis Colts, the organization decided to part ways with the four-time league MVP.

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 told ESPN's Chris Mortensen that he intends to continue to play.

Manning missed the entire 2011 season after having his third neck surgery in 19 months, a fusion of two vertebrae. Manning, who turns 36 later this month, has been medically cleared to resume his career and has increased his throwing regimen.

The Colts are expected to hold a press conference on Wednesday to make the 'official announcement'.

For more on this story visit ESPN.com