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It was a grand ending to the illustrious career of quarterback Peyton Manning, whom Elway signed in 2012 after trading away Tim Tebow.

A year after Manning signed, the Broncos were in Super Bowl XLVIII with Fox at the helm, losing 43-8 to the Seattle Seahawks.

"We've had some early conversations dating back to October, November, December, and now here we are in January. I'm optimistic that we'll get something done."Since Elway's arrival as general manager after the 2010 season, the Broncos have already cycled through two coaching staffs, which included the hiring and departures of head coaches John Fox and Gary Kubiak.

However, the Broncos have made the postseason in five of those six years, winning two AFC Championships and defeating the Carolina Panthers in Super Bowl 50.

John's an important part of our organization, and we want to make sure he's here for a long time.'' Dating back to last season, the two sides have tried -- and failed -- to come to an agreement.

While Elway's said all the right things publicly, rumors have swirled regarding his status with the club, with many trying to theorize why he remains unsigned.

The NFL doesn’t like having “lame duck” executives or coaches entering a season in the final year of a deal. Here are the four plausible scenarios for Elway’s future, ranked from least probable to most. Say Elway wants ownership in the Broncos as part of a new deal and the team’s three-person trust (which includes Ellis) can’t deliver; what’s stopping No. The competitive itch doesn’t go away overnight for a lot of folks, and if the terms and situation were intriguing in another place, then Elway’s earned the right to take on a new challenge.The latest bit of speculation has Elway bolting to Los Angeles, where he'd join longtime pal and Rams owner Stan Kroenke.Paige put the kibosh on that idea, saying Elway "certainly won't" move out to southern California.Elway’s done this for five years, and he’s done way too good of a job not to do it for another five, ten or 15 more.He deserves to get paid as handsomely as any executive in the game, and one has to think Ellis flexes his power and figures out a way to make it work. After months of stagnation, Elway is close to finalizing a long-term contract with the Denver Broncos that'd make him the NFL's highest-paid executive vice president-general manager, the Woody Paige reported Saturday.