By Anica Padilla

ENGLEWOOD, Colo. (CBS4) — John Elway is stepping down as general manager of the Denver Broncos after 10 seasons but will remain the president of football operations in 2021. The new GM will have the final say on the draft, free agency and the roster. The Broncos fell to the Las Vegas Raiders on Sunday and finished the season with a 5-11 record.

John Elway of the Denver Broncos at Empower Field at Mile High on Dec. 29, 2019, during a game against the Oakland Raiders.

John Elway of the Denver Broncos at Empower Field at Mile High on Dec. 29, 2019, during a game against the Oakland Raiders. (credit: Evan Semón/CBS)

“The general manager will join Head Coach Vic Fangio in reporting to Elway as part of a new football leadership structure,” team officials announced.

Elway released the following statement:

“Working in this role for the last 10 years and going back to my playing days, I’ve always tried to do everything I can to help the Broncos win and get better. As part of a transition I’ve thought about for a long time, I have made the decision to step up into an elevated role and hire a general manager to lead our personnel and football staff.

“While I’ll continue to be President of Football Operations in 2021, the GM will have final say on the draft, free agency and our roster. This person will be empowered to make all football decisions, working in partnership with Vic [Fangio].

“I will be there to support our GM and Vic, providing my perspective, helping with the big decisions and being a sounding board whenever needed. With all that goes into the day-to-day responsibilities of a GM and how the job has grown, this structure will set us up for success and allow me to focus on the big picture.

“This is a great place with all the resources to win. We have a lot of good people on the football side, and I’ll be there for them in any way possible.

“The relationship between the GM and Head Coach is very important—Vic is going to be involved in this hiring process. We’ll cast a wide net, and I will start the search immediately with input from Vic and Joe [Ellis].

“I’m excited to begin this chapter and find the next general manager of the Denver Broncos.”

Anica Padilla