Peyton Manning has decided to retire from the NFL after 18 seasons.

Manning called the Denver Broncos on Saturday evening to inform them of his decision.

"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."

ESPN's Chris Mortensen first reported Manning's decision, which clears $19 million in cap room for the Broncos.

Manning's form slipped dramatically over the past two seasons and the Broncos clearly wanted to move forward with Brock Osweiler. 

Manning also retires amid scandals involving a link to HGH and an alleged sexual assault while he was in college.