If I were GM we would not be in the state we are in right now. I would have benched Painter much earlier and would have made other changes including coaching and trades to address problem areas. We had veteran free agents we did not wrap up and now are more than likely lost in a bidding war. If we can’t pay the money they will be gone and we got nothing for them. We have the number one draft choice, but will not be able to pay the veteran free agents we need to re sign and also pay a top round draft choice. These are just facts.
The first thing I would do as GM is replace the coaching staff. I would bring in a top name coach. Peyton Manning will retire a Colt. That is a given. I would restructure his contract based on his evaluation of health if needed. I would also start shopping our draft pick for veterans that could help this team and also other draft picks to re build. I would only trade this pick if those goals and options are met. I would trade or cut Curtis Painter, if a trade was available I would take anything I could get. I would try and re sign Reggie Wayne and also Mathis, but I believe deep down this is going to be very difficult and should have been dealt with before now by either trading or having a contract in place. I would also address our strength and conditioning program. Over the last few years we have had some major injuries and also some players who are habitually injured. (Like Bob Sanders) These players would be re evaluated and like Sanders would either be cut, traded or the contract re negotiated where applicable. I would also try and have another suitable quarterback in place for 3rd string. I believe with the right coaching and development Orlovsky would remain a solid back up to Peyton, but a strong 3rd stringer would not hurt. This is the first steps and I would have these problems addressed then I would hit the free agency and trade market heavy for talent.