Free agent quarterback Peyton Manning will reportedly sign with the Denver Broncos. Representatives of Manning and the team are finalizing the structure of a contract reported to worth $90 million over five years.

In his 11 years with the Indianapolis Colts, Manning won an NFL-record four most valuable player awards and one Super Bowl. He was inactive last season while recovering from his third neck surgery, although there have been reports he has undergone four procedures on his neck.

The Colts made Manning an unrestricted free agent when the team released him on March 6. Indianapolis is expected to select quarterback Andrew Luck of Stanford with the first pick of the 2012 NFL Draft.

Manning decided to play for the Broncos over the Arizona Cardinals, Miami Dolphins, San Francisco 49ers and Tennessee Titans, all of whom made overtures to sign the highly coveted quarterback.

Manning joins a Broncos team that won the AFC West last season, thanks in part to the play of second-year quarterback Tim Tebow. The Broncos have not yet addressed whether or not Tebow fits into their plans now that the team has signed Manning. Denver had a record of 8-5 with Tebow as the starter, including an overtime playoff win over Pittsburgh.

[Sporting News]