Credit: Andy Lyons/Getty

No hard feelings here.

After spending 14-years with the Indianapolis Colts, Peyton Manning's run with the team has come to a close.

"There will be no other Peyton Manning," Colts owner Jim Irsay told reporters during an emotional press conference on Wednesday.

"The number 18 jersey will never be worn again," Irsay added, referring to Manning's number that the team intends to retire immediately.

According to the Associated Press, the decision came as a result of the team having to pay Manning, who sat out of the 2011 season due to neck surgery, a $28 million bonus by March 8 -- part of the $90 million, five-year contract extension he signed a year ago.

"Thank you very much from the bottom of my heart, I truly have enjoyed being your quarterback," a teary-eyed Manning, 35, said during the event. "I've got some progress to make...but I've come a long way. I really enjoy being back out there."

Manning, whose younger brother Eli Manning led the New York Giants to a Super Bowl win this year, has several highlights to boast on his own resume, including an 11-time Pro Bowl selection, holding many of the team's records including career wins and passing touchdowns and a 2007 Super Bowl win.