The Denver Broncos officially placed QB Peyton Manning on the reserve/retired list on Monday.
This is just a procedural move from the Broncos now that he’s formally announced his retirement from the NFL.
Should Manning want to return to the NFL at some point, the Broncos would hold his rights. However, his salary is prohibitive enough that they would just release him and take the cap space in that scenario.
Manning, 39, was entering the final year of his five-year, $96 million contract and was set to make a base salary of $19 million in 2016.
In 2015, Manning appeared in 10 games and thrown for 2,249 yards while completing 59.8 percent of his passes to go along with nine touchdowns and 17 interceptions. Pro Football Focus has him rated as the No. 29 quarterback out of 37 qualifying players.