"We are not kicking him to the curb," Elway said, via Mike Klis of KUSA in Denver. "He can still develop. When we drafted him two years ago, as I said, we knew it was going to take some time."
Lynch finds himself behind offseason acquisition Case Keenum in the team's pecking order. In fact, the 24-year-old Lynch is bidding to keep that distinction by holding off Chad Kelly -- the final pick of the 2017 NFL Draft.
"Paxton is going to compete with Chad for that backup spot," Elway said. "We are not going to bring another one in for OTAs. We will take a peek at that. It will be those two and Case."
Keenum signed a two-year, $36 million contract with the Broncos in March.
The 30-year-old Keenum posted career highs in completions (325), attempts (481), completion percentage (67.6), passing yards (3,547) and touchdowns (22) in 2017 with the Minnesota Vikings.
Keenum started 14 regular-season and both postseason games last season while leading the Vikings within one win of the Super Bowl. The former journeyman made $2 million on a one-year deal in 2017.
By comparison, Lynch has posted a 1-3 mark in four career starts with four touchdowns and four interceptions.
The 6-foot-7, 244-pound Lynch has completed 79 of 128 passes for 792 yards in five career appearances since being selected with the 26th overall pick in the 2016 NFL Draft.