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KUSA - Denver Broncos' John Elway has received a new contract and title, the Broncos announced Wednesday.

Elway has agreed to a three-year extension and will become the team's general manager, team president Joe Ellis said Wednesday in a news release from the team.

After leading the team to two Super Bowl wins as the quarterback, Elway was hired in January 2011 as the team's executive vice president of team operations. He will be under contract through the 2017 season.

"Our organization is extremely pleased with the work John Elway has done in his three years since rejoining the Broncos," Ellis said. "He has demonstrated great vision and leadership in his role, assembling a championship-caliber team and positioning it for sustained success. We are very confident in the direction of the Broncos with John Elway leading our football operations."

Since taking over, the Broncos are 37-17 under Elway, who orchestrated a number of signings - the biggest being Peyton Manning in March 2012.

Elway also hired John Fox after Denver was 4-12 in 2010.