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Peyton Manning reaches deal to join Denver Broncos

Four-time NFL Most Valuable Player Peyton Manning has reached a deal to resume his illustrious career with the Denver Broncos, the team said on Tuesday.

The Broncos did not disclose terms of the deal for the 11-time Pro Bowl quarterback but a report on the National Football League's website said it was for five years and $96 million.

"Peyton is one of the best ever to play this game and I feel very fortunate to have him here," Broncos owner Pat Bowlen told reporters at a news conference. "Our goal has always been to win Super Bowls and Peyton gives us a chance to win another world championship."

News of the deal comes two weeks after Manning, who missed the entire 2011 NFL season after multiple neck surgeries, was cut by the Indianapolis Colts, where he won a Super Bowl and broke all of the franchise's major career passing records.

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