Niners Reportedly Competing for Peyton Manning March 16, 2012, 2:22 pm And you thought March Madness was limited to college basketball .... A few quick updates on the Peyton Manning sweepstakes, which appeared to have narrowed to the Broncos and the Titans, until a few moments ago: Chris Mortensen of ESPN is reporting that the 49ers and Jim Harbaugh are still in the hunt. They worked out Manning this week and gave him a physical, but Manning - who has visited the Broncos and the Titans - has not visited the 49ers" training complex. The Dolphins and the Cardinals are apparently out. The Dolphins are now looking at Matt Flynn as a possible starter; Tim Tebow is another possibility if the Broncos land Manning. On Friday, a Broncos contingent traveled to Durham, N.C., to watch Manning throw and run him through medical tests. According to Mike Klis of The Denver Post, the parameters of the contract are roughly $60 million, with a $30 million guarantee, over five years. The Titans may also get a chance to observe Manning throw before the weekend is out. As they say, stay tuned. Mike Sando of ESPN writes: This does not necessarily make the 49ers a favorite for Manning. It could help explain why the 49ers have not quickly re-signed Alex Smith during the opening days of free agency, despite a longstanding pledge to bring him back for 2012 and beyond. The 49ers" involvement, rather than causing a delay with Smith, might also reflect the state of negotiations. It is possible Smith is asking for more money than the 49ers are offering, leading the team to explore options that could, in turn, bring Smith back to the table. Extra point Would the Niners be considered Super Bowl favorites with Manning at quarterback?