ENGLEWOOD, Colo. -- Elvis Dumervil's days as a Bronco might not be over just yet.

"We'd love to have Elvis back," Executive Vice President of Football Operations John Elway said Tuesday at the NFL owners meetings. "We've made an offer to Elvis, so we'll see how it progresses."

Elway said the "dust had to settle" after last Friday's events, when Dumervil and the team agreed on a restructured contract, but paperwork wasn't submitted to the NFL before a strict 2 p.m. MDT deadline. The team was forced to release the seventh-year veteran, and Elway said the most frustrating part of the entire ordeal was that a decision wasn't made earlier.

Since then, Dumervil has been a free agent, part of a class of pass-rushers that includes Dwight Freeney, Richard Seymour, John Abraham and Osi Umenyiora.

"With him being a free agent now, I'm sure he wants to see what's out there," Elway said. "But hopefully we can put everything back together and have Elvis back in a Broncos uniform."

Head Coach John Fox made it known earlier in the day that Dumervil is "a guy we obviously like," but said that while it might not be his favorite part of the game, he recognizes that the NFL is also a business.

The team has "regrouped" from last Friday and is looking at all its options, the first of which is bringing back Dumervil.

"He's definitely a player that I've enjoyed coaching," Fox said. "He's done good things for our staff, defensively and as a football team as a defensive captain. The kid made a lot of big plays for us this year and last. He's definitely a guy that is in the mix for us and will be in the mix, should be in the mix, and we'll see where that takes us."

It could mean the franchise's seventh-leading sack artist -- with 63.5 career quarterback takedowns -- is back in orange and blue for the 2013 season.

"We're hopeful that we can get something done with him," Elway said.