ENGLEWOOD, Colo – So you’re saying there was a method to his madness?

John Elway is often questioned around these parts: He drives too hard of a bargain, he tries to lowball his guys, he doesn’t value veterans enough; it’s all been said, but the man upstairs at Dove Valley doesn’t do anything without good reason.

On Wednesday afternoon, Elway announced the team had come to an agreement on a three-year $33 million dollar extension to keep wide receiver Emmanuel Sanders in Orange & Blue. $27 million of the deal is guaranteed.

“Emmanuel has proven himself as a great player and one of the most productive receivers in this league,” Elway said in a release from the team. “He plays with intensity, and we love the way he competes. We’re thrilled Emmanuel is going to be a Bronco for many more years to come.”

Not that one of the top general managers in the game necessarily needs to justify any of his moves, but the signing of Sanders puts into perspective the Broncos reasoning for freeing up nearly $10 million in cap space by cutting Britton Colquitt, Mark Sanchez and Ronnie Hillman.

The $11 million per year average for Sanders, combined with the $14 million per year average for DeMaryius Thomas makes the Broncos the highest-spending team in the NFL when it comes to wide receivers, the team spending less than $3 million per year at the quarterback position makes this possible.

In the past two seasons, Sanders has posted 2,539 yards and 15 touchdowns and 177 receptions, establishing himself as one of, if not the top No. 2 receiver in the game. His clutch play, including more than 200 yards receiving in the postseason, made this deal a near no-brainer for the Broncos.

Denver will now keep their top receiving corps together and happy for years to come as they aim to develop young quarterbacks Trevor Siemian and Paxton Lynch.