UPDATE (6:15 p.m. ET): Peyton Manning is calling it a career.

John Elway, the Denver Broncos’ executive vice president of football operations and general manager, released a statement Sunday confirming the surefire Hall of Fame quarterback’s decision, which was first reported by ESPN’s Chris Mortensen.

“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,” Elway said in the 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.”

ORIGINAL STORY: Peyton Manning, much like his boss John Elway, has decided to go out on top.

The Denver Broncos quarterback will announce his retirement from the NFL on Monday, according to ESPN’s Chris Mortensen.

There had been plenty of speculation and rumors surrounding Manning’s future, but after an injury-plagued 2015 season, it didn’t make much sense for him to return. He has accomplished pretty much everything.

Denver likely will turn to Brock Osweiler as its quarterback of the future, but the team needs to re-sign him first. The Broncos reportedly have offered him a three-year, $45 million contract.

Manning will go down as one of the best quarterbacks in NFL history. He won two Super Bowls, including one Super Bowl MVP, and set a long list of passing records during his career.

The 39-year-old played 18 seasons in the NFL. The Indianapolis Colts drafted him No. 1 overall in 1998, and he spent 14 seasons with them, highlighted by a Super Bowl XLI victory over the Chicago Bears. Manning spent his last four seasons with the Broncos, winning Super Bowl 50 against the Carolina Panthers in February.

Thumbnail photo via Mark J. Rebilas/USA TODAY Sports Images