According to The Gazette’s Woody Paige, the Denver Broncos and executive vice president-general manager John Elway are working on a deal that will make Elway the highest paid VP/GM in the NFL.
Paige says the deal could be finalized privately this week and announced officially sometime before the start of Training Camp, which begins July 27.
The Broncos and Elway are negotiating a long-term agreement that could be finalized privately this week and should be announced publicly before training camp begins July 27.
Paige also spoke exclusively to Broncos President and CEO Joe Ellis who said they are “working to get it done.”
"We're working to get it done,'' Joe Ellis, Broncos CEO and president, told The Gazette exclusively. "We've had some productive discussions in the last week or so and will keep talking. John's an important part of our organization, and we want to make sure he's here for a long time.''
The big thing in Ellis’s quote to Paige is that they apparently made some progress on a deal this past week and that they will continue talking. Sounds like Training Camp may have been a deadline to get this deal done before shelving it until the season ends for the Broncos. So thankfully it appears that this comes to a conclusion before the start of Training Camp.
Paige also notes that this deal will be a five-year extension worth about $30 to $35 million, which will make him the highest paid VP/GM in the NFL.
It has been rumored that Elway’s desire to become a minority or majority owner of the Broncos has been holding this deal up, but Paige says that’s not the case.
It was rumored, and published, that the new negotiations involving the Broncos and Elway's first and only agent, Marvin Demoff, would include another opportunity for Elway to obtain a piece of the Broncos' ownership. But credible sources say that aspect of the proposition is untrue.
I know there has been a lot of panic about this lingering on but did anyone really think the Broncos would let Elway go? It would have been a terrible look for the Broncos and Elway would have plenty of suitors lining up for his services. So the Broncos had to get this deal done, and well, they should get it done regardless.
Since John Elway joined the Broncos as the VP/GM the team has not finished under .500. They won five straight AFC West Championships up until this past year, appeared in two AFC Championship Games, advanced to two Super Bowls, and won Super Bowl 50.
He was also able to lure then free agent quarterback Peyton Manning away from Tennessee and to sign with the Denver Broncos. Manning went on to have big time success with the Broncos and had a record breaking year for the team as well. Elway also had some big success in the NFL Draft. His first ever draft pick was linebacker/edge rusher Von Miller who has turned into one of the better defensive players in the NFL and was the MVP of Super Bowl 50.
Broncos, John Elway make progress toward a new deal https://t.co/U1EI7X1Fh1— ProFootballTalk (@ProFootballTalk) July 16, 2017
Elway’s success in Free Agency has been one of his best traits during his tenure. He recruited Peyton Manning, Wes Welker, Louis Vasquez, Aqib Talib, T.J. Ward, DeMarcus Ware, Emmanuel Sanders and others to Denver. Each of those players turned into key contributors to the Broncos during their time here. He also found some hidden gems like Terrance Knighton, Brandon Marshall, and Darian Stewart who came from nowhere to become key starters for the Broncos defense.
Both Elway and Ellis are away from the Broncos Headquarters but Paige says they will reconvene in the next 10 days prior to the start of Training Camp to get this deal done.
As with most deals, potential hang-ups can always happen but it sounds like the Broncos and VP/GM John Elway are nearing a long-term contract extension which is great news for the future of this team.
Stay tuned to Mile High Report for more updates on this developing story.