According to Dave Furst, who is the Sports Director at WRTV-6 in Indianapolis, Manning ultimately decided against the ceremonial process.
Sources tell me Peyton thought hard about “retiring as a member of #Colts.” Gave serious consideration. But, ultimately decided no.
— Dave Furst (@DaveFurst) March 17, 2016
It could mean that Manning just isn’t into the ceremonial side of things and didn’t want to make a spectacle. It also could mean that Manning is still upset with the Colts for not showing faith in him when he was undergoing surgeries on his neck back in 2011.
This will certainly be a story to follow around five years from now when Manning goes into the Pro Football Hall of Fame. If he chooses to go into Canton as a member of the Broncos, that would show his frustrations with Jim Irsay and the Colts to the fullest.
As for now, this is just a blip on the radar.