Barring an unforeseen snag, Manning and the Broncos will reach an agreement according to ESPN.
In addition, the Broncos will try to trade Tim Tebow.
As recently as this weekend Manning worked out for the Tennessee Titans, who were impressed with his showing. A false report leaked online this weekend that Manning was apparently ready to choose the Titans and a press conference was going to be called.
All the while, Manning’s agent, Tom Condon, had already been talking contract with Denver.
ESPN says reaching the contract is merely a formality.
Condon and Broncos VP John Elway discussed the parameters of a five-year, $95 million deal when Manning visited the team earlier this month.
One week later, as they visited in North Carolina, Elway told Manning’s camp that they wanted to finalize the contract.
The Broncos don’t appear to have many concerns over Manning’s health after he passed a team-administered physical earlier this month.
Still, the Broncos want language in the contract that protects them in case Manning is unable to return to the field.
The former Indianapolis Colts quarterback was released earlier this year after he missed all of last season following multiple neck surgeries.
Still, neither the Broncos nor Manning expect any hangups in finalizing the deal.
Manning has instructed Condon not to negotiate with the San Francisco 49ers and Tennessee Titans, the other two finalists to land him.