INDIANAPOLIS – Jim Irsay is putting the Peyton Manning decision on hold.

The Colts owner said Wednesday he will monitor Manning’s recovery from Sept. 8 neck surgery over the next month and may wait until the last possible moment to determine whether to pay the quarterback a $28 million roster bonus, redo the five-year contract he signed last summer or risk losing the four-time MVP as a free agent.

“It’s two-phased. There’s the medical aspect, as to whether he can play at a really high level and that’s the only place he wants to be. Can he drill it in Foxborough in 10 degrees, 50 yards, that sort of thing,” Irsay told a small group of reporters. “The second issue has always been his health and the risks of going back onto the field. When the Super Bowl ends, he and I will continue to talk about it.”

Earlier Wednesday, new offensive coordinator Bruce Arians said he hopes Manning returns to the Colts though he believes the best way for a rookie quarterback to learn is by playing.

Irsay has already said the Colts will choose Manning’s successor in April. The decision is expected to come down to presumed No. 1 choice Andrew Luck or Heisman Trophy winner Robert Griffin III – either of whom would get playing time if Arians has a say.

“I say let him grow, man, put him out there and let him play,” Arians said. “They are going to make mistakes. You have to live with it and learn from it to get better.”

Arians was the first NFL quarterbacks coach to work with Manning, the No. 1 choice in 1998. He also tutored former No. 1 pick Tim Couch in Cleveland and Ben Roethlisberger in Pittsburgh during the last five seasons.

“It’s kind of like deja vu (in Indy),” he said. “There is a new general manager and a new coach. Hopefully Peyton can come back and get ready to go. But, there will be a new quarterback and a new beginning. It’s exciting.”

The big question is whether Manning can come back.

Irsay’s decision may be based on more than Manning’s arm strength. He is still willing to pay the bonus if he can find a way to make it work under the salary cap, and if he determines bringing back Manning would be the best move for the organization.

Separately, Irsay said he expects former offensive coordinator Clyde Christensen to remain on coach Chuck Pagano’s staff though it hasn’t been determined whether Christensen will coach quarterbacks or receivers.

The team plans to interview defensive coordinator candidates Wednesday and Thursday, and Irsay called re-signing defensive end Robert Mathis and receiver Pierre Garcon offseason priorities.