Well, at least he didn't end up with the Patriots, who were his first free agency hosts.
Wesley Woodyard has reportedly agreed to a four-year deal with Tennessee worth $16M.
In six years, Woodyard went from undrafted rookie longshot, to special teams stalwart, to key defensive starter.
Well, we knew that already. But a lot of people apparently didn't.
We've seen Elway criticized for having signed Aqib Talib, for having given him $57M total (ZOMG) and $26M in guarantees (ZOMG!!), for not having gotten Dominique Rodgers-Cromartie for cheaper, and for not having gotten Darrelle Revis instead of either one.
The haughtiest garbage out there involved Bill Belichick somehow having outsmarted Elway.
Good Morning, Broncos fans! The very biggest moves of free agency have already occurred - in Denver and elsewhere.
Of course, several significant names remain available, including Dominique Rodgers-Cromartie - who misread his value to the Broncos - and his cousin Antonio, whom the Jets may need to re-sign after having lost out on bringing back Darrelle Revis.
I'm very thankful for my four years in Denver. I think it's one of the greatest cities to play in. Unfortunately, I never got an offer from the Broncos. Denver will always be a part of me. I'm excited about New York being my new community and starting a new chapter in my life. On top of all that, my wife's expecting our baby any second.
New England has added corner Darrelle Revis to the tune of a one-year deal worth $12M. Of course, this is a good 26% more than the AAV given Aqib Talib by Denver, and Revis wasn't cut loose until today.
This is a fitting move in every aspect; Revis gets to stay the league's highest paid corner and again be the center of attention next offseason, and the Pats don't have to commit beyond 2013.
Wednesday brought another flurry of activity, headlined by Denver's signing of DeMarcus Ware.
The details on Ware's contract are out, and it's essentially a two-year deal for $23M, with $16.5M fully guaranteed.
He'll make a guaranteed $13M in 2014, and half of his $7M salary in 2015 is fully guaranteed.
We used to say that NFL contracts are all about the guarantees.
But then, we learned that it's only full guarantees that matter, as we were just discussing with our pal Elvis Dumervil.
It's why we try not to react too strongly to initial contract reports, and recommend our readers do the same.
The Cowboys have quickly replaced DeMarcus Ware with former Jaguars and Broncos DE Jeremy Mincey.
According to Alex Marvez, Mincey signed for two years and $4.5M, including $2M guaranteed.
Adam Schefter is reporting that the Broncos and DE-OLB DeMarcus Ware have agreed to a three-year, $30 million contract, with $20 million guaranteed.
This sounds like another good deal for the Broncos, but we'll see how the particulars break out.
Schefter is reporting that Ware will make $13 million this year, which makes the backside of the deal sound pretty palatable.
According to Mike Freeman, DeMarcus Ware's visit to Dove Valley is something of a formality, writing that the Cowboys' all-time leading sack man "won't leave without" a contract.