I guess the Colts decided it was just ot hard to keep a straight face when continually asked who they will select #1overall in the 2012 draft so the Colts have confirmed what we already knew:

Sources say Irsay sees symmetry in the franchise history of draft picks and will not pass on the opportunity to complete it. In 1983, the Colts took John Elway with the No. 1 pick, only to see Irsay's father, Bob, trade the Hall of Famer. Fifteen years later, the Colts took Manning.

Now 14 years after that, Jim Irsay wants to draft his quarterback for the next 12 to 15 years.

Which now begs the question as to what to do with Peyton Manning, if anything at all. I'm not going to speculate but I would imagine nothing will happen until Manning proves he is recovered from the neck injury.