The Denver Broncos own the fifth pick in the 2018 NFL Draft, which could be used on a quarterback. The Broncos, however, also have the option of finding one in free agency or via trade.
"Any time you draft that high you have to make 'em count," Elway said, via KUSA-TV. "We've got a lot of picks so we have the ammo also [to trade], so we've got to make sure we make them all count."
Alex Smith and Kirk Cousins are potential veteran quarterback targets for the Broncos.
Elway also talked about what he would be looking for in a quarterback in the draft.
"It is about the tape, but that's only part of it," Elway said. "You've got to find out what they're made of and if they love the game. It's a hard game. If they don't love it, it's hard for them to be successful."