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Agree with everything you said about bad looks. However, there's such weak proof that Goodell won't punish him. This is likely true for many reasons, but a big one is that the NFL would (likely) lose on appeal (a real one, in court) again.
That is absolutely a factor.
If we believe the ESPN article about the backroom dealing going on with regard the Rams to LA move and Goody playing nice guy and not getting in anyone's cross-hairs because he wants to start lobbying for a new contract, then he absolutely won't want to battle in court with Peyton Manning- especially if PM is hell-bent on making sure his legacy is undamaged.
The other angle here is John Elway. Clearly he won't bring Peyton back for $19m but we have no idea what is going on. Maybe Peyton has asked Elway if he would be interested in bringing him back for something. If I'm Elway and with Osweiler a FA, I think about that option. The problem is he doesn't know what will come if this or the HGH investigation so for him, getting clarity sooner than later is in his best interest of the Broncos. In some ways, its better for Peyton too.
With tha said, I think PM will retire and this all goes away.