Report: Broncos negotiating deal to make Elway highest-paid VP/GM

Denver Broncos general manager and vice president John Elway is in negotiations for a new contract that will make him the NFL's highest-paid person in his position, reports Woody Paige of the Colorado Springs Gazette.

Paige expects an announcement to be made publicly when the Broncos open training camp on July 27.

"We're working to get it done,'' Broncos CEO and president Joe Ellis said. "We've had some productive discussions in the last week or so and will keep talking. John's an important part of our organization, and we want to make sure he's here for a long time.''

Paige reports that Elway's deal is in the range of $30 million to $35 million for a five-year period, paying him between $6 million and $7 million per season. The deal would be the largest of his career, as a player or an executive. The current highest-paid GMs are reportedly Ozzie Newsome of the Baltimore Ravens and John Schneider of the Seattle Seahawks, who both make $3.75 million a year.

Elway has worked in the Broncos' front office since 2011 as the vice president of football operations and assumed the role of GM after the 2011 season. The Broncos have had a winning record in every season since Elway arrived, making the playoffs in all but one campaign, appearing in two Super Bowls, and winning one Lombardi Trophy.