According to Chris Mortensen of ESPN, Peyton Manning will become the next quarterback of the Denver Broncos. Adam Schefter reports that Manning has directed his agent to get deal done with Denver and that the team will try to trade quarterback Tim Tebow.

Three teams were left in the Manning race over the weekend. Denver, Tennessee and San Francisco were the teams involved in the chase to acquire the free-agent. Earlier this morning, it was learned that Tennessee was out of the race leaving just Denver and San Francisco.

Now San Francisco will focus on bringing Alex Smith back and mending the relationship that the Manning chase has complicated. The 49ers have a 3-year, $24 million deal with $10 million guaranteed on the table.