Colts Owner: Peyton Manning Decision Likely Coming In March

Read More: Peyton Manning (QB - DEN), Andrew Luck (QB - Stanford), Indianapolis Colts

While many have speculated on the future of Indianapolis Colts quarterback Peyton Manning's future, Colts owner Jim Irsay continues to refute reports that a decision has been made on Manning's future with the team. Irsay will face a decision on March 8, which is when a $28 million bonus in Manning's contract will be triggered. Irsay told reporters on Wednesday that it's possible that March 8 deadline could be pushed back.

"Look, anything is possible if the two parties choose to get together," Irsay told reporters on Wednesday."If it helps us win, I'll pay it in a second. But when it comes to salary cap ... we have real cap problems," Irsay told NFL Network. "You can't make a decision that straps you for the next three seasons. If we make a decision based on just affection, and we have cap problems for three years, the fans will call me an idiot."

Manning told ESPN's Trey Wingo on Tuesday that right now he does plan to continue playing football. "I really feel good. I continue to make progress every day," Manning said. "Everything that the doctors have told me has been on point, which is encouraging to me. I just had a great day today with rehab, just got back from the facility, and that's what we continue to do. Just keep trying to get better. So far I have. That's the plan from here on out."

The Colts owner has already stated that they will draft Manning's successor in the 2012 NFL Draft in April, presumably Stanford's Andrew Luck with the first overall pick, but that pick will not force the team's hand one way or another. "It's not true that any decision has been made. I wouldn't say it's a certainty that it will go one way or another," Irsay told NFL Network.

For more on the Colts and the Manning situation, check out SB Nation's Colts blog, Stampede Blue.