Some video was released this weekend of Peyton Manning doing some throwing at Duke on Friday. I believe ESPN confirmed that it is in fact Manning in the video. The Duke head coach, David Cutcliffe, was Peyton Manning's offensive coordinator and quarterback coach at Tennessee.
The Indianapolis Colts have until this Thursday to decide whether they will pay Manning a $28 million roster bonus, renegotiate the bonus or release him. The odds seem pretty heavy that they will cut him loose, but there will remain some level of drama until that happens. This video won't sway the front office one way or another, but the PR value will be interesting to follow. As Brian Floyd pointed out at SB Nation, this would seem to have been released on purpose either directly by Manning, or simply with the full knowledge of Manning.
Although some folks have chatted about bringing Manning to the 49ers, it still seems like a bit of a long shot. The 49ers have not come to terms with Alex Smith yet, but it still seems to be on track to happen at some point soon. However, Manning could still end up in the NFC West with the Seattle Seahawks. The Arizona Cardinals are likely a possibility as well, but the Seahawks would seem to be more likely. If the Colts do cut loose Manning, it opens the door for a wild run up to NFL free agency, which starts on March 13.