"They're good football players," Elway said. "That's why we plan on exercising, and it's different situations but we're planning on exercising both of those."
New Broncos head coach Vic Fangio previously said that he hoped both players would return to Denver's roster for the upcoming season. The new coach shared that Sanders would play a "major role" with the team.
"I would love that to happen," Elway said about Sanders. "Obviously the only concern is a wide receiver coming off an Achilles. That is my hope too. I love the way Emmanuel Sanders plays the game. I love his heart, I love his competitiveness. ... He'd be a great asset for us, but the question is how he's going to come off that Achilles at 31 years old."
Sanders led the Broncos with 71 catches for 868 yards and four touchdowns in 12 games last season. The veteran wideout suffered a torn Achilles on Dec. 5, ending his 2018-19 campaign. The team expects him to be ready for the beginning of the upcoming season.
In nine NFL seasons, Sanders has 535 receptions for 7,024 yards and 37 touchdowns.
Wolfe has spent seven seasons with the Broncos and started all 16 games last year. He recorded 43 tackles, 1.5 sacks, one interception and six passes defensed. He has 26 sacks in his professional career.