Instead, Elway will be "stepping into an elevated role" within the organization.

On Monday, the Denver Broncos made the shocking announcement that John Elway will be relinquishing his role as the team's general manager. However, Elway won't be completely leaving the Broncos organization. In fact, he is primed to be moving to "an elevated role."

Elway will also be in charge of finding his replacement as general manager.

Elway's complete statement can be read below:

"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."

What do you think about this change in the general manager role for the Broncos? Do you think John Elway (and the Broncos) have made the right decision? Why or why not? Leave a comment below.