The Denver Broncos and general manager John Elway have reached an agreement on a 5-year contract that will keep Elway with the team through the 2021 season. ESPN’s Adam Schefter first reported the news.

While the numbers aren’t officially released yet, Schefter reports that the deal is ‘fully expected’ to make him the highest-paid GM in the NFL.

The Broncos posted their official announcement on Twitter moments later.

“We’re pleased to reach an agreement on a five-year contract with John to continue leading our football operations,” team president Joe Ellis said in a statement. “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.”

Elway also commented on the extension, saying, “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.”