Indianapolis Colts place franchise tag on Peyton Manning

In a move many people saw coming, the Indianapolis Colts have reportedly placed the franchise tag on quarterback Peyton Manning. According the Associated Press, the Colts have not announced the move, but it's a done deal.

Under the agreement of the franchise tag, Manning will be paid $23 million next season and the Colts will have exclusive rights to negotiate a future contract.

Manning, who will be 35 in June, is the only player in NFL history to win four league MVP awards. He also has one Super Bowl win and a Super Bowl MVP.