Denver didn’t just acquire a quarterback in 1983 – it acquired its long-term identity. On May 2, 1983, the Broncos struck a deal with the Baltimore Colts for the rights to No. 1 overall pick John Elway, sending No. 4 pick Chris Hinton, backup QB Mark Herrmann and Denver’s 1984 first-round pick in return.
Bleacher Report recently named that trade the best in Broncos history.
Why the John Elway Trade Happened
GettyJohn Elway redefined success in Denver, giving the franchise Hall of Fame quarterback play throughout the ’90s.
Elway famously had baseball leverage: the New York Yankees drafted him in the second round in 1981, and that option made any NFL team think twice about calling his bluff. He made clear he didn’t want to play for Baltimore, which put a trade on the table—and Denver pounced.
The compensation was steep for the time. Hinton became a multi-time Pro Bowler with the Colts, while the 1984 first-rounder became guard Ron Solt. But Denver’s calculus was simple: pay a premium today for a franchise quarterback tomorrow.
Denver didn’t just win a talent bet; it reset expectations for what the Broncos should be every season. The Elway deal nudged Denver toward an organizational identity built on late-game poise, vertical shots and play-action off the boot game – an ethos that outlived multiple coaches. In real time, the move also galvanized the fan base. “Mile High magic” became more than a slogan as Elway stacked comeback wins and January runs that kept Denver in the national window. Individually, he racked up hardware – most notably the league MVP in 1987 and a Super Bowl XXXIII MVP – while elevating teammates from different eras, from the Three Amigos to Terrell Davis. The trade didn’t just bring a quarterback; it gave the franchise a north star.
The Results: Five Super Bowls, Two Lombardis & a Standard
GettyJohn Elway delivered two Super Bowls to the Denver Broncos during his Hall of Fame career.
Elway delivered exactly what Denver needed – and then some. He played all 16 seasons with the Broncos, made nine Pro Bowls, and finished with 51,475 passing yards and 300 touchdowns. He led Denver to five Super Bowl appearances, winning back-to-back titles in Super Bowls XXXII and XXXIII.
The team success was sustained. During Elway’s playing career, the Broncos reached the postseason 10 times – the kind of consistency that justifies any trade price and then defines a franchise.
And the on-field portfolio had iconic moments: “The Drive” in the 1986 AFC Championship Game, a first ring over Green Bay in 1997, and a Super Bowl MVP performance to cap 1998. Elway’s resume checks every box that matters to fans and historians.
Beyond Playing Days: The Elway Effect Kept Paying Dividends
GettyJohn Elway also played a significant role in the front office in earning the franchise another Super Bowl.
The trade’s impact extended past Elway’s final snap. He transitioned to Denver’s front office in 2011 as executive VP/GM, then president of football operations, and later a consultant. Under his leadership group, the Broncos added another Lombardi in Super Bowl 50, thanks in part to the brilliant move of bringing in another superstar quarterback, Peyton Manning. Elway’s consulting contract ended in 2023, but by then the trade’s legacy had been cemented twice – on the field and in the big chair.
The Bottom Line
Bleacher Report’s “best trade” framework — value, results, and impact –fits Denver’s 1983 swing perfectly. The Broncos paid a heavy price for Elway and came away with two championships, a decade-spanning playoff machine and a post-playing architect of another title. Forty-plus years later, it’s still the trade that built the Broncos.
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