Indianapolis Colts quarterback Peyton Manning has been medically cleared to play again after missing the entire 2011 season with a neck injury.

The Colts have a big decision to make in regards to Manning's future. They have until March 8th to either pay a bonus option to Manning of $28 million to retain him for next season, or release the 4-time MVP.

Chris Mortensen of espn broke the story. Click here for more on Manning's new status from espn.com.