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The two sides have reached an agreement on a new five-year deal that will keep Elway in Denver through the 2021 season, the team announced on Monday.
Although details have yet to be released, Elway is expected to become the NFL’s highest-paid general manager.
“During these last six seasons, John’s clearly established himself as one of the best general managers in all of sports,” President and CEO Joe Ellis said in a statement released by the Broncos. “He”s demonstrated impressive football instincts, a strong business acumen and a consistent ability to build competitive teams.”
Denver has dominated the AFC West since Elway assumed control of football operations in 2011, generating a gaudy 67-29 record with a pair of Super Bowl appearances and five division titles. Only the Patriots‘ .781 winning percentage bests the Broncos‘ .698 mark over that span.
Elway’s importance to the Broncos organization cannot be overstated. As a Hall of Fame quarterback, he guided the franchise to its first two Lombardi Trophies. As an executive, he brilliantly constructed the team that triumphed over the Panthers in Super Bowl 50.
“I appreciate the trust and confidence that Joe has shown in me,” Elway said Monday, via the team’s official website. “Pat Bowlen has always put outstanding leadership in place, and I’m grateful for the support Joe gives us to compete for championships each and every year.
“This is a special place, and the Broncos are home to me. While there’s still a lot of work to be done, I’m excited about the future of this team and this organization.”
Upon joining the Broncos front office, Elway began his impressive run with a stroke of pure brilliance, landing Peyton Manning as the biggest free-agency fish of the 21st century. Since then, he has emerged as perhaps the game’s greatest recruiter, luring Pro Bowl talents such as DeMarcus Ware, Aqib Talib, T.J. Ward and Emmanuel Sanders to Denver.
The greatest asset in Broncos history, Elway has become synonymous with the city of Denver. Along with Ravens general manager Ozzie Newsome, he’s a strong candidate to ultimately gain Hall of Fame honors as both a player and an executive.