The Facts: Manning is retiring after 16 seasons and two Super Bowl MVPs, sources tell ESPN. Manning will hold a news conference on Friday to officially announce the news, the sources said.

Diehards Line: His decision to call it a career comes after a season where Manning spent most of his time as the backup to rookie Daniel Jones. He made it clear after the season that being a backup wasn't much fun and there wasn't an interest in returning in a similar role, even if Giants owner John Mara left the door open for it to happen. Mara also said it was possible Manning could return to the organization in another role if he decided to retire. Manning, 39, steps away holding almost every passing record in team history and a pair of Super Bowl rings. His victories over the New England Patriots during the 2007 and '11 seasons are the most iconic moments from a legendary career. They will have him in the conversation for the Hall of Fame in five years when eligible. Manning is one of just five players in NFL history with at least two Super Bowl MVPs. He's in an elite club with Joe Montana, Bart Starr, Tom Brady and Terry Bradshaw. ... Stay tuned. We'll follow up when the official announcement is made.