There's a new team in the Peyton Manning Sweepstakes
The 49ers now enter the fray, and immediately become one of the favorites to sign Manning. If he wants to win, there's no doubt whatsoever that he should go to San Francisco. They have a ridiculously good defense, a talented young WR corps, and they just signed Randy Moss, one of the greatest WRs of all time.
Jim Harbaugh has already said he has confidence in current 49ers QB Alex Smith, who is a free agent as well, but Manning would obviously be a significant upgrade. Another interesting note is that Manning and Smith have the same agent. The 49ers' interest in Manning might be why Smith hasn't been signed yet. Another potential suitor for Manning could be worth more money than any deal that Smith would sign.
Another team making a strong push is the Denver Broncos. They've actually offered Peyton a pretty significant contract, a 5-year deal worth around $60M with $30M guaranteed.
Realistically, that would end up being a 3-year deal for around $40M-50M. There's no way Peyton is sticking around for 5 years, no matter what happens.
Manning also recently visited the Cardinals, Titans and Dolphins. This is going to be a crazy few days (or weeks) until Manning gets signed.