The deadline for the Indianapolis Colts to make a decision on Peyton Manning's future is actually on Friday, not Thursday, as it has been widely reported. Several new reports came out this morning clarifying the status of Manning's contract with the Colts.

As you know, the Colts have a major option bonus due on Thursday -- $28 million. It's highly unlikely they pay that. NFL Network's Jason La Canfora had a report breaking down why the real deadline is Sunday and, he's right, but all league business must be done by Friday for it to count that week. Pro Football Talk breaks it down:

As we suspected, and as NFL spokesman Greg Aiello confirms, all business for the current week must be transacted by 4:00 p.m. ET on Friday, March 9. Thus, if Manning is still on the roster as of 4:01 p.m. ET on Friday, March 9, there's no way the Colts can cut him before Monday morning.

So, really, this doesn't change anything. The Colts are still expected to release him. It just may officially happen on Friday instead of Thursday.