DENVER (KDVR) — After the transfer of Broncos ownership from the Pat Bowlen Trust to the Walton-Penner ownership group was approved by NFL owners Tuesday, the man leading the organization for years announced he will step away from the team.

Joe Ellis has been a part of the Denver Broncos organization for 27 years and served as the organization’s CEO for the past eight.

The team released a statement from Ellis which says in part:

There are no words to express the gratitude I have toward Pat Bowlen for his trust, friendship and the responsibility to serve the Broncos and this community for nearly three decades. Pat’s legacy of winning, doing things the right way and giving back is unmatched. He is a Pro Football Hall of Famer in every sense for what he has meant to this organization and the National Football League.

Joe Ellis

Ellis said he was asked by the new owners to stay on as an advisor to the new ownership group this season and has agreed to do so.