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He agreed to a five-year, $96 million contract Tuesday morning. The deal's annual average of $19.2 million exceeded the record of $18 million for a multi-year package previously shared by Manning and Patriots QB Tom Brady.
UPDATE, 4:01 p.m.: "We're going through the process," Elway said of Tebow's future, adding that he and HC John Fox have been in contact with the incumbent quarterback. "It's a tough business.
"I got a great deal of respect for him as a person and the things that he does. "(But) what would be the best opportunity for the Denver Broncos to be competitive for a world championship. And Peyton Manning was that, and so that's why we chose to go that direction."
Elway said Tebow, who remains under contract, understood the Broncos' position and maintained his signature positive attitude. "Without a doubt in my mind, this is the best decision for the Denver Broncos at this point in time," Elway said.
UPDATE, 4:01 p.m.: "We're going through the process," Elway said of Tebow's future, adding that he and HC John Fox have been in contact with the incumbent quarterback. "It's a tough business.
"I got a great deal of respect for him as a person and the things that he does. "(But) what would be the best opportunity for the Denver Broncos to be competitive for a world championship. And Peyton Manning was that, and so that's why we chose to go that direction."
Elway said Tebow, who remains under contract, understood the Broncos' position and maintained his signature positive attitude. "Without a doubt in my mind, this is the best decision for the Denver Broncos at this point in time," Elway said.
