Broncos vice president of public relations Patrick Smyth tweeted the update Saturday night. Earlier Saturday, a column in the Denver Post, which initially cited two unnamed sources, stated that Manning had decided to retire and would acknowledge the decision by the end of the week.
As recently as Thursday, Broncos executive vice president of football operations/general manager John Elway had said that Manning had yet to make a decision about retiring. The two had met for two hours at Elway's house on Tuesday.
Elway is expected to meet with Manning again after the NFL combine, which concludes Monday.
Manning has a scheduled speaking engagement in Jacksonville, Florida, on Wednesday.
Manning missed seven starts this past season because of a tear in the plantar fascia near his left heel. He will turn 40 on March 24.
On March 9, the first day of the new league year, Manning's $19 million base salary is guaranteed, so the Broncos would need to know by then whether he intends to continue playing.
Information from ESPN.com's Jeff Legwold was used in this report.