DENVER (AP) -- Broncos executive John Elway says Tim Tebow was disappointed but very positive when they talked about Denver's plans to sign Peyton Manning.

Speaking Tuesday at a news conference to introduce the 11-time Pro Bowl selection as the newest Bronco, Elway said Tebow's response was typical of the exciting young quarterback.

Elway said Tebow was "very positive. He's like, `We're talking about Peyton Manning. I understand what you're doing."'

Tebow turned Denver around last season but misfired on passes and was often more effective as a runner. Manning is one the best QBs in league history and won a Super Bowl in 2007.

Elway didn't say exactly what will happen to Tebow but, "It would be our goal for us to get (Tebow) in the best situation possible."

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