Peyton Manning will not become the lead game analyst on Fox’s new Thursday night package, sources told The Post on Tuesday. Manning’s decision caps a fruitless two-network pursuit for one of the most sought-after former NFL players.

Manning, 42, has been recruited by all the networks for the past two years since retiring because of his Hall of Fame stature and his established TV persona from his playing career and his countless commercials, but has continued to say no.

In the wake of Tony Romo’s rookie success as CBS’ lead analyst, both ESPN’s “Monday Night Football” and Fox’s “Thursday Night Football” went hard after Manning, feeling he is a bigger name with the potential to match Romo’s success. Fox and Manning TV’s agent, Sandy Montag, both declined comment.

Fox wanted Manning to give its new 11-game Thursday night package a big-game feel after the network paid $3.3 billion for the five-year deal. The network does not have a clear Plan B. Hall of Famer Kurt Warner is expected to be considered, while Fox has had current Cowboy Jason Witten, retired quarterback Carson Palmer and retired offensive lineman Joe Thomas in for auditions.

Panthers tight end Greg Olsen, whom The Post reported tried out for ESPN’s “Monday Night Football,” also is a possibility. He impressed Fox with the game he called last year during a bye week. Olsen could continue playing.

Fox also has its own roster of game analysts, beginning with Troy Aikman, the network’s Sunday lead game analyst.

ESPN is still looking to replace Jon Gruden, who left the Monday night booth for a $100 million contract to coach the Raiders. ESPN moved its play-by-play man, Sean McDonough, to college football, while The Post has reported it is promoting Joe Tessitore to Monday night.

ESPN is considering Olsen, Warner, Matt Hasselbeck, Louis Riddick, Randy Moss and others. Brett Favre is considered a long-shot candidate. Riddick is said to be a strong candidate if ESPN opts for a three-man booth.

However, Manning was the only potential difference-maker in the eyes of executives from Fox and ESPN.

Manning first turned down ESPN before further considering Fox. If Manning had gone to Fox, it is unclear who his partner would have been. Since Fox’s lead play-by-play man, Joe Buck, is tied up with a busy fall schedule, the network looked into borrowing NBC’s Mike Tirico, sources said. Manning has a strong relationship with Tirico, but NBC had privately expressed reluctance to let Tirico, the new face of its sports division, work for another network.

Tirico is under a long-term deal with NBC, which called for him to succeed Bob Costas as the host of the Olympics. Tirico did that last month for the first time. It also makes him the eventual successor to Al Michaels on “Sunday Night Football,” but Michaels, 73, has shown no signs of hanging it up anytime soon.

Tirico could end up calling the seven extra games (mostly on Thursday) that will air exclusively on NFL Network and not on Fox.

Earlier Tuesday, Dan Patrick told The Post he is leaving NBC’s “Football Night in America” pregame. Tirico is the leading candidate to be the solo host. This made it even further unlikely NBC would let Tirico do double duty with Fox.