Peyton Manning is expected to formally announce his NFL retirement on Monday.

When the five-time MVP takes to the podium at a Monday morning press conference, what he has to say will be a mere formality, as the Super Bowl champion Denver Broncos confirmed on Sunday the 18-year veteran and two-time champ has made the decision to hang up his cleats.

"When you look at everything Peyton has accomplished as a player and person, it's easy to see how fortunate we've been to have him on our team," Broncos executive vice president of football operations and general manager John Elway said in a statement. "Peyton was everything that we thought he was and even more -- not only for the football team but in the community. I'm very thankful Peyton chose to play for the Denver Broncos, and I congratulate him on his Hall of Fame career."

Broncos' Just Made Aware of Manning's Decision

The team was informed of Manning's decision during a Saturday night call he made to the front office. Up until then, team officials were also uncertain which way he was leaning.

Speculation about Manning's status has bubbled ever since he underwent surgery for a neck injury in 2011. For a while following the surgery, he could barely heave a football more than 10 yards. He signed with the Broncos in March of 2012, but the team still used a second-round pick on quarterback Brock Osweiler in the second round of the draft.

 "It was a blessing to coach Peyton Manning. Nobody worked harder at the game and nobody prepared harder than Peyton," Broncos coach Gary Kubiak said in a statement. "His preparation was the best I've ever seen with how he went about his business. There was nothing like his work habits. Each and every week, he did everything he could to get ready to play not only against the defense but even against the coordinator."

Manning the Ultimate Pitchman

Revered as a coach on the field, Manning's legacy will also include his ability to put the game back into the hands of the quarterback. During his 14 seasons in Indianapolis, he operated with complete freedom at the line of scrimmage. He ends his career with 71,940 passing yards and 539 touchdowns.

Over time, Manning almost became as well known for his popularity as a celebrity pitchman. His No. 18 jersey has typically been among the league's best sellers and Papa John's Pizza and Nationwide Insurance are among his biggest endorsement deals.

A Shot at Back-to-Back Titles

In the wake of Manning's retirement reports many Bronco fans may be wondering whether Manning's decision is an untimely one since Denver has a shot to win back-to-back titles during the upcoming season. The Broncos have in fact achieved back-to-back titles (Superbowl XXXII & XXXIII) before during the '97-'98 and '98-'99 seasons when Manning was starting out as rookie for the Indianapolis Colts. Opportunities for back-to-back championships don't come often and Manning must have pondered deeply about this opportunity to further cement his legacy before deciding to retire.

Manning's departure leaves many questions unanswered for the Broncos and during tomorrow's press conference a question that will most likely come up relates to the Broncos' plan to deliver back-to-back titles next season and whether Manning could've stood for one more season to make it happen. However, even without their star quaterback Denver may have a good chance for the title when taking into account their solid defense as well as the championship momentum they may tap into. 

One will non-equivocally have no other option but to ask themselves whether Manning's decision was right at the end of next season. Is it the best for the Broncos?