Elway, the former Broncos quarterback and current executive vice president of football operations, and his ownership group have signed a letter of intent to buy a Chevrolet dealership in Englewood, KUSA-TV reported. Last month, he opened a Chrysler dealership in Greeley.
Elway's business partner Todd Maul told KUSA: "While John's primary focus will remain on the Broncos, he sees this as a great business opportunity. … We feel the Denver market is coming back economically and it is something we want to be part of."
Asked if more dealerships are in the works, Maul said, "We will continue to look for opportunities to grow the John Elway brand."
Elway had left the Colorado car business in 2006 when his partnership with AutoNation ended.
Notable deaths of 2014 [PHOTOS]