Giving the fact he has had 3 NECK surgeries in the past 2 years, I would not be shocked if Peyton retires in the off-season, and I don't think he owes the Colts anything. He will be 36 years old, he has taken the Colts to the SB twice, and has given them 13 great seasons of football. Assuming Andrew Luck lives up to the hype, the Colts are very fortunate that fate somehow smiled on them again and delivered another franchise QB to their doorstep.
The 2-14 record this year also shows just how much the Colts have relied on Manning over the past few years.