"They're good football players, so that's why we're planning on exercising," Elway said. "It's different situations, but, yeah, we're planning on exercising both of those."
The Broncos can't publicly comment on the pending trade to acquire Flacco from the Baltimore Ravens until the start of the NFL's new calendar year on March 13. Flacco's arrival shakes up the quarterback room, of course, and Elway was uncertain if Case Keenum, who signed a two-year deal in 2018, would be in Denver.
"We don't know yet," Elway said. "As I told Case when I talked to him, different options and that we're going to work with him, and give him time to think about it. So, we'll circle back with Case and see where he is, and go from there."
Meanwhile, the Broncos committing to keeping Wolfe certainly provides stability and a boost to the defense.
Wolfe, who has spent seven seasons in Denver, started all 16 games last year and totaled 43 tackles, 1.5 sacks, an interception and six passes defensed. On his career with the Broncos, he has 26 sacks.