ENGLEWOOD, Colo. (AP) — A person with knowledge of the situation tells The Associated Press that Peyton Manning will return for a fourth season in Denver and 18th in the NFL.

Manning will reduce his salary from $19 million to $15 million in 2015, according to the person who spoke on condition of anonymity because there was no official announcement.

However, he can make up all of the $4 million pay cut by reaching certain performance benchmarks.

Manning will take his physical and sign his revised contract Thursday, then return April 13 for team conditioning.

The five-time MVP mulled retirement after the Broncos’ playoff loss to the Indianapolis Colts. But he determined he still had the health and hunger to keep playing at age 39.