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John Elway flashed that mile-wide grin and turned the microphone over to his new quarterback, Peyton Manning.

Talk about a powerful pair.

Introducing Manning as the newest Denver Bronco on Tuesday, the two Super Bowl winners each talked about hoisting another Lombardi Trophy, this time together. And soon.

"I realize I don't have 14 years left, by any means," Manning said. "This isn't something where I'm just building a foundation to do something in two years or three years. This is a 'now' situation. We're going to do whatever we can to win right now. That's all I'm thinking about right now."

Just so long as Manning's surgically repaired neck goes along with the plan.

Neither he nor Elway has a doubt it will, and the Hall of Famer-turned-executive knew the NFL's only four-time MVP was just what his club needed.

The franchise has won just two playoff games since Elway's career came to an end with a second straight Super Bowl triumph in 1999.

Denver's last playoff victory came over Pittsburgh two months ago, when Tim Tebow delivered a stadium-rocking, 80-yard pass to Demaryius Thomas on the first play of overtime.

But things change, and in the NFL, they can change fast. Tebowmania is now a passing fad in Denver.

A couple of photos of Tebow that once adorned the halls at the Broncos' headquarters were gone Tuesday by the time Manning was introduced.

"I believe that he's got a lot of great football left in him," Elway said of his new QB. And if that's true, the Broncos will wind up paying him $96 million over five years under his new deal.

After holding up his new, bright orange jersey in a photo op with Elway and owner Pat Bowlen, Manning answered many of the questions that have been bouncing around since March 7, when his old team, the Colts, released him to avoid paying a $28 million bonus and set in motion one of the most frenetic free-agent pursuits in history.

The first issue on everyone's mind: So, Peyton, how do you feel?

"I'm not where I want to be. I want to be where I was before I was injured," Manning said, referring to the neck problem that kept him off the field in 2011 after he'd started every game for the Colts for the previous 13 seasons. "I have a lot of work to do in getting to where I want to be from a health standpoint and learning this offense. This is going to take a ton of work."

As far as being the man who could bring about the end of Tebow's stay in Denver, Manning said: "I know what kind of player Tim Tebow is, what kind of person he is … and what an awesome year he had this year. If Tim Tebow is here next year, I'm going to be the best teammate I can be to him, he and I are going to help this team win games. If other opportunities present themselves to him, I'm going to wish him the best."

With the new contract in place, Manning plans to retire in Denver. The Broncos, meanwhile, have some protection in the way the deal was formulated. There's no signing bonus. Manning will get $18 million guaranteed for next season, but must pass a physical before each season, starting in 2013, to get paid.

"I don't consider it much of a risk, knowing Peyton Manning," Elway said. "I asked him, 'Is there any doubt in your mind that you can't get back to the Peyton Manning we know of?' And he said, 'There's no doubt in my mind.' "

QB Smith has deal to return to 49ers

A person with knowledge of the negotiations says Alex Smith and the San Francisco 49ers are working to finalize a three-year contract.

NFL Network first reported the sides had agreed on a new deal. The person, speaking on condition of anonymity because no announcement had been made, said Tuesday night final details are still being worked out and an announcement could come as soon as Wednesday.

The 27-year-old Smith had met with Miami on Sunday but ultimately decided to stay put with the team that drafted him first overall out of Utah in 2005.

Smith had a breakthrough season last year, helping San Francisco reach the NFC title game. He passed for 3,144 yards, 17 touchdowns and just five interceptions.

Around the league

Steelers • After his salary cap-related release three weeks ago, receiver Hines Ward announced his retirement Tuesday. Ward said he believes he can still play but did not want to join a new team after 14 seasons in Pittsburgh.

Eagles • Philadelphia acquired two-time Pro Bowl linebacker DeMeco Ryans from Houston for a fourth-round draft pick in 2012. The Eagles and Texans also are swapping third-round choices in 2012. The Eagles now have the 89th pick overall, while the Texans have the 77th pick.

Lions • Detroit reached a deal to keep linebacker Stephen Tulloch for another five years. Tulloch made a team-high 111 tackles with the Lions after signing a one-year deal last summer. Financial terms were not disclosed.

Jets • LaRon Landry signed a one-year contract with New York. The former Redskins safety finished each of the last two seasons on injured reserve and played in just 17 games.

Packers • Cornerback and special teams ace Jarrett Bush, a former Utah State player, agreed to a three-year deal to return to Green Bay.