Following the Denver Broncos 24-10 win over the Carolina Panthers in Super Bowl 50, Peyton Manning told reporters that he was going to “take some time” before deciding on his future. The Broncos have him under contract for one more season, but he has given the league some warning signs that he might retire.

Elway echoed that idea by saying that the Broncos would give Manning “all the time he needs” to decide on his retirement.

What Elway and the Broncos really meant was that “all the time” expires March 8.

The 39-year old quarterback’s $19 million base salary becomes fully guaranteed on March 9, and it results in a salary cap hit of $21.5 million.

When Elway said Manning to get "all the time he needs'' for retirement decision, he really means March 8, Manning $19M base gtd. on Mar 9th — Jeff Legwold (@Jeff_Legwold) February 9, 2016

It has been generally accepted that this was going to be Manning’s last season. That notion was only amplified after the Broncos defense carried the team to a Super Bowl title, despite poor play by Manning and the offense.

This is a story book ending. Why risk it?

If Manning did decide that he was not ready to hang up the cleats, it is likely that the Broncos would cut the 18-year veteran unless he drastically restructured his contract.

The Broncos have a laundry list of free agents to deal with this offseason. Some of the names highlighted on that list are Von Miller, Brock Osweiler, Malik Jackson, Brandon Marshall, and Danny Trevathan. The front office would like to know Manning’s decision sooner rather than later so that they know what kind of cap space they are working with.

If Manning does decide to retire, it will be an emotional day for the National Football League as they are losing arguably the greatest quarterback of all-time.