Peyton Manning to Sign With Broncos: Report

NEW YORK ( TheStreet) -- Peyton Manning could supplant Tim Tebow in Denver.

Manning's agent Tom Condon reportedly has entered contract negotiations with the Broncos at the instruction of the four-time MVP quarterback, according to ESPN.com.

Vice president of football operations John Elway had discussed a five-year, $95 million contract during a March 9 meeting in Denver, ESPN said.

If Denver nabs the potential Hall of Fame quarterback, the team must decide what to do with its popular, unconventional starter, Tim Tebow.

Tebow headlined a large part of the 2011 NFL season as he carried the Broncos from a cellar dweller to a playoff team. Questions surrounded the young quarterback's ability all season, but he proved capable of running the football and taking hits, while a little shaky in his ability to throw precision passes.

Manning would likely be named the starter as soon as he signed a hefty contract, which would probably force Denver to trade Tebow and his own sizable contract to make room for the salary cap.

-- Written by Joe Deaux in New York.

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