Back In The Game John Elway, not the retiring type, is tackling a new challenge as part owner of an Arena League team

Being the master of the last-minute comeback, John Elway--not
surprisingly--felt lost with so much time on his hands. It was
March 2001, and the former Denver Broncos quarterback was idling
in a retirement that, since he had sold the majority of his auto
dealership empire for a reported $82.5 million, was as boring as
it was well-funded. His online sporting goods venture with
Michael Jordan and Wayne Gretzky, MVP.com, had flopped. (The
website was sold in January 2001, and the company has since
dissolved.) A possible return to the Broncos, in a front-office
position, didn't happen after he and owner Pat Bowlen agreed
there would be little for Elway to do, and the future Hall of
Famer had no interest in being a figurehead.

So he slept late, played golf and, unlike in his final two
seasons, 1997 and '98, which ended with Super Bowl victories, he
worried. "I didn't really know what to do. I was searching for
something, and that was pretty tough," says Elway, who will turn
42 next week. "I wanted to try different things in the business
world. The Internet play was a good idea at the wrong time--and
then I wasn't sure what was next."

What providence, then, that Elway had an office that was located
between the headquarters of Stan Kroenke--the majority owner of
the Denver Nuggets, the Colorado Avalanche and their home, the
Pepsi Center--and the Denver airport. On his way out of town one
day in March 2001, Kroenke dropped by Elway's office to put out
a feeler: Kroenke wanted to add an Arena Football League (AFL)
team to his portfolio and wanted Elway involved as a part owner
and to handle the franchise's day-to-day operations. Soon
afterward, Elway's free time disappeared.

"It's been a long 15 months getting to this point, but I'm
excited because I'll have a chance to learn how to put a team
together," says Elway, who bought 33% of the unnamed expansion
club, which will begin play in 2003. "In terms of competition
and being held accountable, golf wasn't cutting it. With this, I
can have a hands-on role in the business and also stay close to
football. I can compete without having to play. I had always
watched the Arena League when I was in my hotel rooms over the
years. I always thought it was exciting."

That would describe AFL commissioner C. David Baker's reaction
to Elway's involvement. "This league is perfect for someone like
John, someone who wants to learn the day-to-day business of
running a team," says Baker, whose league now has franchises in
eight of the top 10 U.S. markets and will have roughly 70 games
broadcast by NBC beginning in February 2003. "John's going to
learn how to hire a coach, how to make payroll, how to take a
team into the community."

Elway's training is under way. He visited the league's New York
City offices on June 10 for a daylong orientation that covered
everything from marketing and promotion to salary-cap
management. Elway discovered there's more to owning a franchise
than signing checks. "I thought I knew most of it, but there's
so much I'd never considered, especially on the p.r. side,"
Elway says. "Now I'm the guy who deals with things when a player
pisses someone off. Now I'm the guy who has to worry about
securing sponsorships. I didn't realize how much was involved."

Another thing Elway has learned is that two-way players, sideline
dasher boards and kicking nets aside, Arena football is basically
the same as the outdoor game. He witnessed a 2001 game between
the Arizona Rattlers and the Los Angeles Avengers. "The game was
quick, and for the most part the guys are just as big and just as
fast [as players in the NFL]," says Elway. "The courage to play
the game is the same."

The AFL seems to have gotten the right man for the job. If
nothing else, John Elway sure needed one.

COLOR PHOTO: JACK DEMPSEY/AP (INSET) ALL BUSINESS Elway, going deep in a farewell-to-Mile High appearance in 2001 (top), wears a different uniform as an expansion owner.

COLOR PHOTO: TIM DEFRISCO [See caption above]