Unfortunately, the future doesn’t look too bright for the Hall of Fame-bound quarterback, who could have no choice but to call it quits.

Citing a “family friend,” Peter King of NBC Sports reported Sunday night that Manning is still having trouble regaining full-arm strength five months after undergoing neck surgery.

And it gets more ominous.

King, relaying a “gut feeling” from Gil Brandt, added that “we’ve probably seen the last of Peyton in a football uniform.”

Former Colts head coach Tony Dungy, speaking on NBC’s Pro Bowl pregame show, feels that Manning really only has two options at this point: Play for Indy if healthy, or retire if not.

The former is less likely to take place, considering the fallout that’s transpired between Manning and owner Jim Irsay, who recently labeled the signal-caller a “politician,” and the team’s expected selection of Andrew Luck in April’s draft.

With a staggering $28 million option bonus due in early March, we should have a better read on Peyton’s plight in the weeks ahead. However, all signs point to Irsay cutting ties with Manning, a decision that won’t sit too well with Indiana’s inhabitants.

As crazy as it sounds, Rob Lowe, the unlikeliest of sources, may have in fact scooped us all.

UPDATE: Perhaps saying he’s likely to retire really isn’t so farfetched. Sources tell Jason Cole of Yahoo Sports that Manning has “hit a plateau in his rehabilitation,” as his vertebrae “don’t appear to be progressing at enough of a rate to indicate that he will play again.”

“People close” to the quarterback — probably the same “family friend” in King’s report — believe his career is finished.

Okay, okay, maybe he’s only the second most talked about item, behind, of course, the surging Denver Tebows Broncos. Still, for the last several months, Manning has drawn more gossip and back-page press than the National Enquirer.

The Colts, whom he’s currently under contract with, are weighing their only options, trying to determine whether to retain him — eating a $28 million option bonus for a potential mentor to Andrew Luck — or cut him loose, an unfathomable scenario to Indianapolis’ faithful.

If it’s the latter, we may have early insight into where Peyton may end up.

Per NFL Network’s Jason La Canfora, “general managers around the league” have mentioned the Seahawks, Cardinals, and 49ers as “possible destinations” for Manning.

The recent buzz has linked Manning to the Jets, who are revamping their offensive coaching staff after a late-season meltdown culminated in locker room turmoil and dissension. Quarterback Mark Sanchez has been trashed lately, both by the media and his own teammates, who’ve publicly come out and suggested that Gang Green needs to look elsewhere for their franchise signal-caller.

Might the Jets heed their call, and, for the second time in four years, swoop in and acquire a future Hall of Fame QB? Could the Big Apple become occupied by the Brothers Manning?

To quote Lee Corso: Not so fast, my friend.

La Canfora threw cold water on the idea Thursday, saying the potential marriage doesn’t add up and is unlikely to materialize.

“People I talk to in the league just don’t see it happening,” La Canfora told “NFL Total Access on Thursday. “It just doesn’t add up to where (Manning) wants to be.”

No, the real horses in this race evidently reside in the NFC West.

On top of what La Canfora is hearing, CBS’ Charley Casserly, a well-respected name in league circles, dubbed the Cardinals as the “one team to watch” due to the probable departure of Kevin Kolb, and coach Ken Whisenhunt’s prior experience with an all-time great under center.

It’s a fit that’d make sense from a logistical standpoint, too. Arizona offers everything the Colts do — and more.

Manning would continue to play indoors, with an elite receiver, an above-average running game, and … the best part? Doing so in a division that even the Crimson Tide could give a run for its money.

On Sunday, ESPN’s Adam Schefter tweeted that the Colts, in search of a general manager, tried to hire the Patriots’ director of player personnel Nick Caserio to fill the position.

Supposedly, Caserio chose to remain in New England, but the report drew the ire of Jim Irsay, who fired back at Schefter.

“Adam,don’t say I wanted to hire someone I never talked to or met..MISLEADING..come on,your better than that..get your head in the game,son!” Irsay responded.

Schefter, who’s no stranger to ruffling a few feathers around the league, then issued his retort, clarifying where the source of the speculation originated.

“Excuse me @JimIrsay. NFL told me your general counsel Daniel Emerson emailed request for Nick Cesario on Tues before he opted to stay in NE,” Schefter said.

As an aside, this has me thinking back to 2010, when the Raiders took umbrage to a report by Schefter, and sent out a hilarious press release claiming he makes “untrue statements” about the team.

And now, back to your regularly scheduled programming.

Now there’s further confirmation that the highly-touted signal-caller is likely headed to Indy — be it as an understudy or the successor.

ESPN’s Chris Mortensen believes the Colts “won’t pass” on selecting quarterback Andrew Luck with the No. 1 overall pick.

As Mort says, past history points to this as a virtual lock to happen. Team owner Jim Irsay‘s father, Robert, traded John Elway in 1983, and Jim, nearly two decades later, selected Peyton Manning.

Fast forward to 2012. Manning, recovering from a trio of neck surgeries, just sat out an entire season and the Colts, reeling from a 2-14 record, have a dilemma on their hands.

Manning is due a sizable chunk of change before the new league year begins, and they may not want to allocate so much money to one position with he and Luck.

Of course, it’d be a tremendous learning experience for the 22-year-old to learn under one of the game’s all-time greats, but Manning, assuming he’s medically cleared to play, probably would want to start — and rightfully so in that situation.

As the next few months pass, this will be the most talked about situation leading up to the draft. Irsay, after doing a little house cleaning, faces another quandary. What he decides upon will likely determine if the franchise returns to contention, or faces a few more years of high draft picks and two-win campaigns.

According to ESPN’s Chris Mortensen, Colts owner Jim Irsay has cleaned house, firing vice chairman Bill Polian, general manager Chris Polian, and all of Indy’s front office staff.

Head coach Jim Caldwell and the coaching staff will be fired once new management is decided upon, though Irsay certainly made a splash by canning the Polians.

Although many suspected Peyton Manning to be the sole nucleus of the franchise, it was still shocking to see just bad they were without him this year.

Some could say that Polian didn’t do enough to upgrade the team around the Hall of Fame signal-caller, and earning the draft’s No. 1 overall pick did nothing to refute that claim.

With the future of several notable stars, such as Manning, Reggie Wayne, and Dallas Clark, up in the air, Irsay seems to want to wipe the slate entirely — from top to bottom — in Indianapolis.

With their 19-13 loss to the Jaguars Sunday, the Colts have clinched the first overall pick in the 2012 draft.

Indy finished with a 2-14 record on the year, edging out the two-win Rams to lock up the draft’s top selection.

After a wildly dismal year, the Colts face a tumultuous offseason filled with several tough decisions.

Longtime stalwarts, such as Peyton Manning, Reggie Wayne, and Dallas Clark, have clouded futures, and it wouldn’t be a surprise if none of them return to Indianapolis.

As for the draft itself, the Colts are widely expected to take Stanford quarterback Andrew Luck, who is said to be the best QB prospect since the man he may end up succeeding.

The same might apply to his longtime teammate, the man whose reeled in 69 of his 399 career touchdown tosses.

On the heels of the Colts’ Thursday night home contest against the Texans, Reggie Wayne conceded that this could be the final time he dons a horseshoe in front of the Lucas Oil Stadium crowd, NFL.com reports.

“Well, it could,” the five-time Pro Bowl wide receiver said Wednesday, when a reporter mentioned the possibility. “I am well aware of that, and I’ve come to the conclusion that, in every athlete’s career, they are going to be faced with this decision at some point in time, whether it is a long career or a short career.”

Wayne is in the last year of his contract and may want to explore other opportunities, especially if he’s not going to have Manning, a future Hall of Famer, throwing to him.

A one-win season, to this point, probably isn’t helping matters much, either.

If this does turn out to be his grand finale, Wayne acknowledged that he holds a special place in his heart for the fans, making it hard for him to depart.

“I truly appreciate them, man,” Wayne said. “They come out with the Reggie signs, and no matter what the situation is, they are always there cheering, and it could be a little tough. Everybody said it would be a little emotional for me, but we’ll see.”

Without Peyton, the 33-year-old Wayne is having his worst statistical season since 2003. He’s totaled just 59 receptions for 781 yards and three scores. Even though the five-time Pro Bowler is experiencing a down year, it’s excusable considering the likes of Kerry Collins, Curtis Painter, and now Dan Orlovsky have been under center — a far, far cry from the All-World Manning.

Indianapolis’ brass — owner Jim Irsay and GM Bill Polian — will have not one, but two difficult decisions on their hands this offseason.

Per ESPN.com, the NFL has flexed the Week 13 contest between the Colts and Patriots out of its original “Sunday Night Football” timeslot. The game, which takes place on December 4, will now be played at 1:00 p.m. ET and broadcast on CBS.

The league has until November 22 to decide on a replacement for SNF. Flexible scheduling after Week 10 ensures the best games are the one’s nationally seen.

My, how the times have changed. Every year they meet, the Peyton Manning-Tom Brady duel is hailed as must-see TV, with each game typically leaving you on the edge of your seat. Now, with Manning sidelined indefinitely and Indianapolis reeling at 0-9, no one wants to tune in to see a one-sided bloodbath.

In Week 7, the Colts visited New Orleans on Sunday night and were bludgeoned by the Saints, 62-7. Against the Pats, there’s a high chance a laugher of that nature could take place again. Thankfully, we — nor Al Michaels and Cris Collinsworth — won’t have to endure it again on a grand scale.

Per the Indianapolis Star, Colts head coach Jim Caldwell revealed Monday that Clark suffered a “pretty significant” injury to his lower left leg during the team’s 31-7 loss to the Falcons in Week 9.

Although he’s still being evaluated, the Colts fear Clark’s injury could be of the season-ending variety.

“We’re not quite certain yet,” Caldwell said.

Clark exited the contest in the second-quarter and returned later with a protective boot on his left foot. Up to that point, he had two catches for 21 yards.

For insurance purposes, Indianapolis snatched tight end Anthony Hill off of the Eagles’ practice squad, a needed acquisition considering backup Jacob Tamme is the only healthy player at the position for the Colts.

In the event he’s indeed done for the year — again — the 2011 campaign would go down as an awful one for Clark, who has just 28 receptions, 287 yards, and two scores through nine games.

It was an expected occurrence, though, with the likes of Kerry Collins and Curtis Painter under center, and Peyton Manning up in the coaches booth, still rehabbing from three major neck procedures.

Following the Colts’ 27-10 loss to the Titans on Sunday, Collins said he’s “99 percent sure” that he has taken his last snap as an NFL quarterback, IndyStar.com reports.

“I’m about 99 percent sure this is going to be it,” Collins said. “When you start dealing with concussions at my age and this point in my career, I’m inclined to think this is going to be it for me.”

Collins, who was coerced out of retirement by Indianapolis with Peyton Manning indefinitely sidelined, suffered a concussion in Week 3 against the Steelers, later sending him to injured reserve and ending his 17th season as a pro. He had hoped to return sometime this season, but the concussion proved to be “significant.”

“I just didn’t respond the way everybody had hoped,” Collins said. “It just took longer. Some symptoms just lingered. There was concern that since it did take so long, in the future there would be a real possibility of longer-term damage.

“(Concussions) hadn’t been a big part of my career, but this one was significant.”

When he was on the field, Collins looked highly ineffective as his age — 38 — might’ve finally caught up to him. In three starts, he threw for 481 yards, two touchdowns, one interception and completed a mediocre 49 percent of his passes.

Although he’s not going out the way he would’ve liked, Collins enjoyed a fruitful career, passing for nearly 40,922 yards (which ranks 10th all-time in NFL history), 208 touchdowns, 196 picks, and two Pro Bowl selections. He has absolutely nothing to be ashamed of, even after a not-so-great showing in 2011.