Before you freak out, know that the statement is being made by a radio talk show host in Indianapolis citing an unnamed source. But still, Jake Query of 1260 WNDE said today what the title states. As Query put it on Twitter, "A source I consider reliable told me [Manning] is out for the season. I do believe that the actual diagnosis is still being determine." Query also tweeted that Manning has already undergone another procedure on his neck, which was performed on either Sunday or Monday.

UPDATE: Sports Illustrated's Peter King is refuting the report, tweeting that he has been told by a reliable source that while Manning may have another neck procedure at some point, nothing new has taken place yet. And thus, the carousel starts again.

Fantasy Analysis:

I can't speak on Query's track record of being correct on news he breaks, but if he's right here, it's a doozy. Right now, Manning is out for week one. Past that, it's a whole lot of speculation. And if you are still drafting -- I have a draft tonight -- I'd advise you to stay far, far away from Manning. While I have no problem with the likes of Reggie Wayne and Dallas Clark for this week against Houston, you need to downgrade them as well as Austin Collie . A full season of Kerry Collins would deal a sizable hit to their values.