Latest Peyton Manning-Colts Rumors from Dan Patrick After Chris Ballard Fired as GM

After firing general manager Chris Ballard, the Indianapolis Colts are reportedly still interested in handing the position to legendary former quarterback Peyton Manning, but there are a lot of hurdles in the way.

Dan Patrick, who was the first to report on the Colts' interest in Manning, asked his source, "Did I whiff?" and he received a detailed response.

"Not at all. They have talked, and as you already indicated, ultimately the timing is not right, but the interest is there," the source told Patrick. "Family and business interests are the immediate priorities for Peyton. The Colts still have structuring to do, true football and business sides, and it all goes to the Irsays. That's in the process, it's not done yet. Again, timing is an issue here. Peyton ultimately indicated he wants Omaha Productions 'fully stood up.' And ideally wants his kids in, or if possible, beyond college. He'd consider consulting before that, but nothing more."

Patrick needed to clarify his reporting after ESPN's Adam Schefter reported on Sunday that the Colts "have not approached Manning about their vacant GM job, nor would the Hall of Fame quarterback be expected to be interested in the position."

"Manning would be willing to listen and consider any NFL opportunities at any time, but the Colts have not discussed any of those possibilities with him, according to sources," Schefter added. "It's possible that some could come in the future, sources said, but those discussions likely would involve higher-profile positions similar to the ones that other former NFL quarterbacks have accepted with other franchises."

Patrick's source also indicated that Manning would not hastily accept the Colts' GM position amid his family and media obligations.

"Peyton is 50. He's got both options. He has time," the source told Patrick. "They don't intend to share this publicly. Former GM Bill Polian was in town last week…and encouraged the Peyton Manning approach."

The Colts fell to 2-5 following Sunday's loss to the Minnesota Vikings, so the team could use some positive news in its GM search to provide some optimism for the future. For now, it sounds like Manning is in no rush to take the job.