DENVER -- He is officially a Bronco.

Peyton Manning signed with the team, and was introduced as Denver's new quarterback Tuesday afternoon.

Broncos Owner Pat Bowlen, team Vice President John Elway and Manning all spoke at a press conference in Denver.

Recently released by the Indianapolis Colts, Manning became this off-season's most sought-after free agent.

He spoke not only with Denver, but Arizona, Tennessee, Miami and San Francisco as well.

Monday morning, M anning called Elway with the good news.

"In the end I thought the Broncos were a great fit, I have always had a great deal of respect for John Elway, he is one of the best quarterbacks to ever play," Manning said.

Along with Elway's two Super Bowl wins, Manning said the now football executive's passion, knowledge and respect for the game was also a major draw.

"I just really liked what he had to say, everyone knows what kind of a competitor he is, not just when he was playing but also in this new role, and that got me excited," Manning said.

In the midst of all the hype and excitement, Manning also addressed his health.

"There are a lot of players who have had to miss a season or significant time, this is just the first time it has happened to me, so I tried to learn from it," Manning said. "It was hard not being out there and to see our team not winning games."

And what about Tim Tebow? Where does he stand?

Manning and Elway both agreed he is an excellent person and player.

"That is the tough part of this business, but my role and responsibility is I have to take the personalities out of it and make the best decision for the Broncos," Elway said.

"If Tim Tebow is here next year I am going to be the best teammate I can, and he and I are going to help this team win games," Manning said.

Manning will wear the number 18 even though it was retired by Denver in honor of Frank Tripucka's career.

Manning said he spoke with Tripuka, who was more than happy to bring the number out of retirement.