Denver, CO, United States (4E Sports) – The Denver Broncos have signed coach John Fox to a three-year deal, keeping him with the team through the 2016 season.
The deal came a week after team president John Elway said a contract extension for Fox was “the next thing on the agenda” for the team.
According to sources, the extension was “fair” to both sides and puts Fox among the league’s best-paid coaches.
“We are pleased to reach this agreement with John Fox, who has played a key role in the success and improvement of the Broncos during the last three seasons,” Elway said in a statement released Saturday.
“While our team has made progress each year under Coach Fox, we both understand that there is still work to be done for us to reach our ultimate goal,” he added.
Elway said having continuity at the head coaching position is critical in building a championship team, and “John Fox is an important part of our foundation as we move forward.”
Fox signed a four-year contract worth an average of approximately $3 million a year when the Broncos hired him in 2011.
He would have received a $1 million bonus had the Broncos won Super Bowl XLVIII last month, but Denver was bullied, 43-8, by the Seattle Seahawks.
Fox is 34-14 in regular-season games with the Broncos, with three consecutive AFC West titles.
The Broncos, with Peyton Manning at quarterback, have entered the last two seasons as the Super Bowl favorites only to lose in double overtime to the Baltimore Ravens in the divisional round to close out the 2012 season and then to the Seahawks in February.
Fox is 3-3 in postseason games with the Broncos.