The Indianapolis Colts have designated star quarterback Peyton Manning as their franchise player, locking him up with a $23.2 million one-year tender. "We have placed the franchise tag on Peyton while we continue to negotiate a long term deal," Colts owner Jim Irsay announced on his official Twitter account. The Colts have been negotiating with Manning's agent, Tom Condon, but no deal is imminent. The franchise tag is a mechanism that buys the Colts time to work out a contract extension while securing his services for next season. Source: National Football Post
