Peyton Manning is back on the practice field.
The Colts have activated the four-time MVP off the Physically Unable To Perform list, meaning Manning will be able to practice with his team for the first time in training camp as soon as Monday. It is unknown if he actually will practice Monday. Manning will practice on a limited basis for now and anything he does will be scripted and on a controlled basis. Slowly but surely, he's reaching full health after offseason neck surgery.

Fantasy Analysis:

This is big news, but also expected. Manning isn't going to miss more than one regular-season game, if he misses any at all. So we knew he was going to come off the PUP at some point prior to the season. But with still about two weeks left to prepare, I think the timing of this move is significant. There should be enough time for Manning to get his rhythm down and re-connect with the receivers he is already so familiar with. He's in that top-seven class among fantasy QBs, although he's probably on the lower end now because of his neck problems. But I still think he'll be starting in week one, and he could come as a bargain on draft day.