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Colts release quarterback Peyton Manning

The Indianapolis Colts released four-time National Football League MVP Peyton Manning after 14 years with the club, the team said at an emotional news conference on Wednesday.

Manning, 35, missed the entire 2011 season after neck surgery last September and was due a $28 million bonus if the club had decided to keep him.

(Reporting By Larry Fine in New York; Editing by Frank Pingue)