Colts quarterback Peyton Manning isn't ready to dress for a game, but the team has activated him. On Monday, less than two hours after being activated from the physically unable to perform list, Manning told reporters it was the next step in his recovery from neck surgery in May. "I don't know what HIPAA stands for, but I believe in it and I practice it," Manning joked, referring to the federal law protecting medical privacy. "So, uh, I'll leave it at that." The team said Manning will practice on a "scripted" and controlled basis with teammates this week.

In preparation for the regular season, the Colts waived eight players on Sunday. Former Bears fourth-round pick, guard Josh Beekman, was among the players waived. The rest of the players were tackle Casey Bender, wide receiver Joe Horn, running back Devin Moore, safety Chip Vaughn and quarterback Mike Hartline. The team also waived/injured linebacker Cody Glenn and defensive back Mike Newton.

Kerry Collins, who the Colts lured out of retirement recently, signed a two-year, $14 million contract. The contract was initially reported to be for just one season, but The Indianapolis Star reported otherwise. Collins is guaranteed $4 million this season, thanks to a $1.5 million base salary and $2.5 million signing bonus. He would receive $10 million in base salary in 2012. The Star reported that Collins will count just $2.75 million against the NFL salary cap this season because he received a two-year deal.

Colts quarterback Peyton Manning is in the middle of his rehabilitation from neck surgery, but remains hopeful that he will play in the Sept. 11 season opener at Houston. CBS Sports reporter Sam Ryan asked Manning during the team's 24-21 loss to Green Bay on Friday night if the four-time NFL MVP thinks he will be ready for Week 1. "Boy, I sure hope so, Sam," he said. "I've never missed a game my entire football career due to an injury, since I was all of 13 years old. I sure don't want to start Week 1 (missing a game) this season. "That's my goal, to be out there, to play and not just to play but to play competitively. I want to be out there to help my team win. And if I'm able to do so, I'll be out there. I'm going to use this valuable time these next few weeks and see what happens with it when the time is right."

The Colts could activate quarterback Peyton Manning within the next two weeks. If he's not activated, Indianapolis will have to play their first six games without the multi-time MVP. League rules require players on the physically unable to perform list to be activated by the team's final cutdown, Sept. 3, or to sit out an additional six weeks. "I would say that it's certainly a realistic possibility here and it could happen shortly," coach Jim Caldwell said.

The Colts have reached an agreement with veteran quarterback Kerry Collins. According to sources, the Colts don't expect Peyton Manning to be ready to start by Week 1 as he recovers from offseason neck surgery. The Colts had been talking to Collins, who had announced his retirement earlier this year, for several days before he agreed to a deal on Tuesday night.

Colts coach Jim Caldwell says quarterback Peyton Manning is working hard to return to the team as soon as possible. Manning said Saturday night that offseason neck surgery may prevent him from playing in a preseason game. "I think he laid out pretty well where he is," Caldwell said. "He's working extremely hard to try to get back as quickly as he possibly can. "We've kind of been watching things as they progress. So he's going to work hard to try to get back and get ready and he's doing everything he can to do so." Manning has never missed a game in his 14-year career.

Colts quarterback Peyton Manning has started all 208 regular-season games during his 13-year NFL career. However, Manning has yet to practice with the team this summer due to a May neck surgery that some fear could keep him out of the starting lineup in Week 1. Tony Dungy, Manning's former Indianapolis coach and an NBC analyst, doesn't think the multi-time MVP will sit out. When discussing Manning's status at halftime of the San Diego-Dallas Sunday night preseason game, Dungy stated that Manning will play in Indianapolis' Week 1 showdown against the Texans "unless he's dead."

Colts owner Jim Irsay posted on his Twitter account that he was in Brett Favre's hometown of Hattiesburg, Mississippi on Sunday. However, Favre's agent says he has not heard of any interest from the Colts. Favre, 41, retired in the offseason after a 20-year career and lives in Hattiesburg. "Brad, I'm in Hattiesburg ... is it right or left at the Firechief?" Irsay tweeted Sunday, presumably referring to former Vikings coach Brad Childress, who traveled to Mississippi last July in an apparently successful attempt to keep Favre from retiring. Favre's longtime agent Bus Cook said he hadn't spoken with the former quarterback in a few days, but the "last time I saw him he was on his tractor mowing the back forty."

Colts owner Jim Irsay says his team must be prepared to start the season without injured quarterback Peyton Manning. Irsay posted his comments Saturday morning on his Twitter account, less than 12 hours after the Colts lost their eighth straight preseason game. "We r evaluating the QB sitch,#18 healing but we got 2 b prepared 4 early season possibility without him,defense has 2 pick it up,big time!" Irsay wrote. During a conference call with reporters, coach Jim Caldwell was asked when he expected Manning to be back. Caldwell hasn't provided a timeline for Manning's return and says he hasn't been cleared to practice. "Bottom line, we truly do not know when he will be ready," Colts president Bill Polian said. "Once the nerves regenerate properly, he'll be ready. When that happens, he'll be ready to ramp up immediately. It's impossible to predict."