( CNN ) -- Four-time NFL MVP Peyton Manning is expected to announce today that he will be leaving the Indianapolis Colts , the only team he has played for in his 14-year career . Manning and Colts owner Jim Irsay are scheduled to appear at a noon ET press conference in Indianapolis to make the announcement . The two flew into Indy from South Florida together on Tuesday night , according to media reports . `` We 'll see ya 'll tomorrow . We 're gon na talk tomorrow , '' Irsay told reporters after arriving in Indianapolis , ESPN.com reported . `` We 're going to do this the right way . We 'll talk to you guys tomorrow , '' Manning said , according to CNN affiliate WISH-TV . Wednesday morning , Irsay tweeted , `` It was a long , emotional flight ... now the sun is trying to rise . '' The Colts will release Manning rather than pay him a $ 28 million bonus he is due on Thursday if he remains on the Indianapolis roster . Manning was the No . 1 pick in the 1998 NFL draft by the Colts . He became their starting quarterback that year and led them to 11 playoff berths , two conference championships and one Super Bowl victory . But Manning sustained a neck injury during the 2010 season and was forced to sit out the entire 2011 season after having surgery to fuse vertebrae in his neck . The Colts plummeted to a 2-14 record without Manning , which gained them the first pick in April 's NFL draft . They are expected to take Stanford quarterback Andrew Luck or Baylor quarterback Robert Griffin III with that pick . Both are considered franchise quarterbacks , like Manning was when the Colts took him No . 1 in 1998 . Although he 's expected to leave the only pro team he has played for , Manning 's career is far from done . His doctors have cleared him to play and he 's been working out at Duke University . He 'll become a free agent and is expected to be sought after by several teams . Among the favorites to land the 35-year-old QB are the Miami Dolphins , Washington Redskins , Arizona Cardinals and Tennessee Titans . ESPN reports that Manning is expected to work out for select teams once he narrows his choices . Colts fans were sad to see their city 's shining star on his way elsewhere . `` I 'm disgusted . Manning is who Indianapolis is , he 's our identity and what he 's done for the community . He 's more than a football player , '' Bob Nellish told CNN affiliate WTHR-TV . `` I would n't be nearly as big a fan without him , '' WTHR quoted fan Aly Wiggs as saying .
Colts to start noon ET in 2011 . Manning out injured for entire 2011 season . Colts have No . 1 pick in NFL draft .