Pat Bowlen: Denver Broncos owner steps back due to battle with Alzheimer's; Elway speaks

Denver Broncos owner Pat Bowlen has decided to step back due to a long and continuing battle with Alzheimer's disease, according to a statement from the team.

"In recent years, Denver Broncos Owner Pat Bowlen has taken a reduced role with his team while courageously and privately battling Alzheimer's disease," the statement reads. "The Broncos are very saddened that Mr. Bowlen is no longer able to be part of the team's daily operations due to his condition. We continue to offer our full support, compassion and respect to 'Mr. B,' who has faced Alzheimer's disease with such dignity and strength."

According to the statement, ownership of the team is currently held in a trust run by non-family trustees. Team president Joe Ellis has been and will continue to run the team. Bowlen eventually wants his children to oversee the Broncos "at the appropriate time."

Former Broncos QB and current Vice President and general manager for the team, John Elway, addressed the announcement in a press conference.

"It's going to be very hard to not see him walk through those front doors every day," Elway said emotionally during the press conference according to NFL.com. "He has given me so much, as a player, to be able to play for him.

"As a player all you want is an opportunity to be the best and compete for world championships and as a player that's what Pat Bowlen's given us. Now having worked for him for three years, he's given us every opportunity, every resource that he has to be able to put the best football team on the football field and compete for world championships and that's what Pat's all about."

Elway, a Hall of Fame quarterback, played all of his 16 seasons with the Broncos. He led the Broncos to back to back Super Bowl championships in 1997 and 1998.

According to ESPN, Bowlen began ownership of the Broncos in 1984. Since he took over the Broncos have been to the Super Bowl six times and walked away with two championships. Since 1984 the team also has a .604 winning percentage, second only to the San Francisco 49ers (.618) in that time span.

You can read the full statement from the team here.