The Colts owe Manning a $28 million roster bonus by March 8. They want to use the No. 1 pick in this year's draft on Manning's successor, and the future of their star QB will affect how much room they'll have under the salary cap.
Manning turns 36 in March.
"We can make it work if he wants to be here," Irsay said. "We'd be excited to have him back and finish his career with us.
"I want him to be able to make the choice. We would love to have him back here if he can get healthy and we can look at doing a contract that reflects the uncertainty of the . . . healing process with the regeneration of the nerve."
The Colts went 2-14 last season without Manning, who started every game in his first 13 seasons in the NFL. He threw for 33 touchdowns and a career-high 4,700 yards in 2010, when Indianapolis went 10-6 and won the AFC South.
Manning guided the Colts to a win in the Super Bowl after the 2006 season.
In other NFL news:
* St. Louis hired Les Snead as general manager. He spent 13 years with Atlanta, the last 3 as director of player personnel.
* A Minnesota Vikings executive says the team hasn't filed a notice of relocation with the NFL and it doesn't appear it will. The deadline to tell the NFL they plan to move before next season is today. Team vice president Lester Bagley says there is momentum to build a stadium to replace the Metrodome.
* Atlanta receiver Roddy White tweeted that NFL commissioner Roger Goodell is overpaid. Goodell reportedly will make $20 million per season by the end of his current contract. "How in the hell can u pay a man this much money that cant run tackle or catch," White wrote.