ENGLEWOOD, Colo. -- John Elway and the Broncos reached agreement on a five-year extension that will keep him as general manager through 2021, the team announced Monday.
The move comes just a few days before the start of training camp.
No figures are available, but ESPN's Adam Schefter reported the deal is "expected to make him the NFL's highest paid GM."
"We’re pleased to reach an agreement on a five-year contract with John to continue leading our football operations,” Broncos president and CEO Joe Ellis said in a statement.
“During these last six seasons, John’s clearly established himself as one of the best general managers in all of sports. He’s demonstrated impressive football instincts, a strong business acumen and a consistent ability to build competitive teams.
"There’s no doubt John means a great deal to the Broncos, our fans and the entire community. It was important for us to reach this long-term agreement, and we’re all excited to now turn our full attention toward the 2017 season.”
Elway is entering his seventh season as executive vice president of football operations and general manager of the team. He joined the team in that role in January 2011.
The Broncos have won five AFC West titles been in two Super Bowls and won Super Bowl 50 during his tenure.
“I appreciate the trust and confidence that Joe has shown in me,” Elway said. “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.”