Report: Broncos To Announce Peyton Manning Signing At 3 PM EST

The Denver Broncos have called a press conference for 3 p.m. EST today to introduce Peyton Manning, according to Jim Wyatt of the Tennessean.

The Broncos have called a press conference for 2 pm CST today to introduce Peyton Manning as their new quarterback

— Jim Wyatt (@jwyattsports) March 20, 2012

Manning’s intentions to sign with the Broncos were reported yesterday morning. It is believed he will receive a five-year deal worth as much as $95 million.

Manning had reportedly been deciding between the Tennessee Titans and the Broncos. He was released earlier this month by the Indianapolis Colts after missing the entirety of 2011.

It is believed that the Broncos will now trade third year quarterback Tim Tebow. The former college star helped lead the Denver squad to an 8-8 record and a playoff win last season.