Peyton Manning CUT from Colts! Indianapolis Colts owner Jim Irsay announced Wednesday that his team will release Peyton Manning, making the four-time MVP perhaps the most-coveted free agent in NFL history. Watch Indianapolis Colts owner Jim Irsay release Peyton Manning here! Do you think cutting Peyton Manning is a good idea? Now that Peyton Manning is released from the Colts where should he go?