DENVER -- John Elway is returning to football.

A new Arena League team owned by Elway will be announced at a news conference on Wednesday. Elway will split ownership with Denver Broncos owner Pat Bowlen and Kroenke Sports, which also owns the NHL's Colorado Avalanche and NBA's Denver Nuggets.

Elway wanted to get back into football after retiring in 1999 and figured bringing an Arena League team to Denver would be his best avenue.

"I didn't lose my competitive juices when I retired,'' says Elway, who played 16 years and retired after quarterbacking the Denver Broncos to consecutive Super Bowl victories. "I wanted to get close to the game again and this is how I can do it.''

The team will begin play in February 2003. The new team will share the Pepsi Center, which is owned by Kroenke Sports, with the Avalanche and Nuggets.