On May 2, 1999, at the age of 38, Elway announced his retirement from pro football. Elway is regarded as one of the top quarterbacks ever to play the game. He has one of the best winning percentages in league history (148–82–1), and is tied for second most Pro Bowl selections for a quarterback (nine). He is fourth to Brett Favre, Dan Marino and Peyton Manning in career passing attempts, passing yards and completions. His four total rushing touchdowns in his Super Bowl games are the most ever by a quarterback.

This February 2, 1998 issue of Sports Illustrated Magazine was signed in blue by Elway and includes a Mounted Memories hologram and COA.