ENGLEWOOD, Colo. (AP) — Peyton Manning is back on the football field learning a new offense under new coach Gary Kubiak.

Manning, who turned 39 last month, was without his top target when the Denver Broncos opened their first minicamp. Demaryius Thomas is skipping the offseason program after being franchise tagged, to the chagrin of GM John Elway.

Manning is acclimating to a shuffled O-line that lost Orlando Franklin and Will Montgomery and a new group of pass-catchers minus Julius Thomas, Jacob Tamme and Wes Welker.

Afterward, Manning is expected to meet with the media for the first time since pondering retirement following the 2014 season.

He agreed to the first pay cut of his career, a $4 million reduction that helped alleviate the Broncos’ cash crunch.

KNOXVILLE, Tenn. (AP) — Denver Broncos quarterback Peyton Manning is donating $3 million to Tennessee to benefit the Volunteers’ football program and Manning’s scholarship endowment.

The university issued a release Friday saying Manning and wife Ashley announced a “$3 million leadership commitment.” Manning starred for Tennessee from 1994-97.

Manning’s donation honors Gus Manning, who isn’t related to the quarterback, and Carmen Tegano. Gus Manning has served Tennessee’s athletic program since 1951 in many roles. Tegano, an associate athletic director, has worked at Tennessee for over three decades.

Gate 16 at Neyland Stadium will be called the Gus Manning Gate. A student-athlete dining hall in a residence hall under construction will be named after Carmen and Deborah Tegano.

The Peyton Manning Scholarship for students in Tennessee’s honors program has been awarded annually since 1998-99.

ENGLEWOOD, Colo. (AP) — Peyton Manning will take a physical and sign his revised contract at Broncos headquarters Thursday, then head home until the Broncos reconvene April 13 for the start of offseason workouts.

Then, it’s time to adapt to new coach Gary Kubiak’s West Coast offense and continue his pursuit of a second Super Bowl trophy.

Weeks of speculation about the five-time MVP’s future ended Wednesday with word that he’s returning for an 18th season in the NFL and fourth in Denver.

A person with knowledge of the situation told The Associated Press that Manning will take a $4 million pay cut, from $19 million to $15 million, but that he can make it all back through performance incentives. The person spoke on condition of anonymity because there was no official announcement of the deal.

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.

ENGLEWOOD, Colo. (AP) — A person with knowledge of the negotiations confirms the Denver Broncos and Peyton Manning’s representatives are discussing ways to revise his contract and give the team more flexibility in free agency.

The person spoke to The Associated Press on condition of anonymity because of the sensitive nature of the talks.

Manning, who has made more money than any player in pro football history, is due to make another $19 million in both 2015 and ’16, and his salary cap number for next season is $21.2 million.

John Elway has traditionally been one of the more aggressive general managers in the NFL when it comes to free agency.

INDIANAPOLIS (AP) — The ball is in Peyton Manning’s court.

Broncos executive John Elway said as much Thursday at the NFL scouting combine, making it clear he’s still waiting to hear whether the 38-year-old quarterback wants to return for a fourth season in Denver.

Manning and Elway met last week in Denver, but Manning left without a definitive answer about his return.

Elway said he wanted No. 18 back. He was less clear about what financial terms Manning might return under.

Asked if there was a holdup because of contract considerations — Manning is scheduled to make $19 million next season — Elway said he didn’t like to discuss contracts, but that he does believe Manning will be the Broncos quarterback next season.

PHOENIX (AP) — Peyton Manning is still mulling his future in the NFL.

At a breakfast Friday to receive the Bart Starr Award, the five-time MVP said he still hasn’t made a decision about whether he’ll return to the Denver Broncos next season.

After the season-ending 24-13 loss to Indianapolis in the divisional playoffs, Manning made no guarantees about coming back for another season — a change of heart from a month previous, when he said he had every intention of returning.

He played the end of this season with a leg injury that hampered his effectiveness.

Broncos executive vice president John Elway told Manning to take his time before deciding.

“I’d like to make a decision soon,” Manning said, but he did not indicate when that would be.