ENGLEWOOD, Colo. – John Elway has said repeatedly he hopes to be in Denver a long time.

That hope is now a reality.

Elway and the Broncos agreed to a new five-year contract Monday that will keep Elway in Denver through at least 2021, President and CEO Joe Ellis announced.

"We're pleased to reach an agreement on a five-year contract with John to continue leading our football operations," Ellis said. "During these last six seasons, John's clearly established himself as one of the best general managers in all of sports. He's demonstrated impressive football instincts, a strong business acumen and a consistent ability to build competitive teams.

"There's no doubt John means a great deal to the Broncos, our fans and the entire community. It was important for us to reach this long-term agreement, and we're all excited to now turn our full attention toward the 2017 season."

Ellis played an instrumental role in the extension process, which has been a top priority for the organization. At the NFL league meetings in March, Ellis stressed the Broncos' desire to extend Elway.

"I'd like John to stick around," Ellis said. "I think I'm in the majority."

Ellis' efforts helped make that possible.

Elway, a three-time Super Bowl champion, enters his seventh season in his current role as Executive Vice President of Football Operations/General Manager. Owner Pat Bowlen named him to that role on Jan. 5, 2011.

"I appreciate the trust and confidence that Joe has shown in me," Elway said. "Pat Bowlen has always put outstanding leadership in place, and I'm grateful for the support Joe gives us to compete for championships each and every year.

"This is a special place, and the Broncos are home to me. While there's still a lot of work to be done, I'm excited about the future of this team and this organization."

Since that time, Elway has led the Broncos to 67 regular-season wins, five AFC West titles, two Super Bowl appearances and a Super Bowl 50 win.

He has guided a draft process that has seen the Broncos select All-Pro Von Miller and key contributors Derek Wolfe and Shane Ray.

Elway also signed All-Pro Chris Harris Jr. and Pro Bowler C.J. Anderson as college free agents.

In free agency, Elway has made similar splashes. He signed quarterback Peyton Manning in 2012 before adding cornerback Aqib Talib, outside linebacker DeMarcus Ware, safety T.J. Ward and wide receiver Emmanuel Sanders in 2014 to bolster the Broncos' championship chances.

And with Elway on board for the foreseeable future, there's no reason the Broncos shouldn't continue to compete for years to come.