Former NFL star has long been considered one of the most desired talents to add to football broadcasts by ESPN, NBC and Fox.
According to Andrew Marchand of the New York Post, the quarterback has previously "come close" to accepting a booth job but ultimately held back from doing so.
Part of the reason for that may be in an effort to keep his post-playing day options open.
Marchand's sources said Manning has thought about taking an ownership stake with an NFL club and "has had high-level discussions" with league governors about various positions.