Denver Broncos owner Pat Bowlen has relinquished control of the franchise as his family announced that the iconic executive cannot oversee the team's operations anymore due to Alzheimer's disease.

Pat Bowlen's wife, Annabel, revealed the development in a statement released through the Denver Post where she admitted that her husband has been battling Alzheimer's over the past few years.

"As many in the Denver community and around the National Football League have speculated, my husband, Pat, has very bravely and quietly battled Alzheimer's disease for the last few years," Annabel Bowlen said in a statement.

Annabel Bowlen revealed that her husband decided to keep his condition private because he wants to continue overseeing the operation of the Broncos, the team he guided to two world titles in six Super Bowl appearances.

"Pat has always wanted the focus to be solely on the Denver Broncos and the great fans who have supported this team with such passion during his 30 years as owner," Annabel Bowlen added. "My family is deeply saddened that Pat's health no longer allows him to oversee the Broncos, which has led to this public acknowledgment of such a personal health condition."

According to reports, Bowlen has been preparing for his impending resignation since 2011 when he distanced himself from the team's day-to-day operations and named Joe Ellis as team president.

Bowlen and Ellis then hired John Elway to lead the Broncos' football operations department, and the legendary quarterback then named John Fox as the team's new coach.

The front-office changes also led to the signing of Peyton Manning in 2012 to become the team's main quarterback -- a decision that worked well for the Broncos as they finished 13-3 in each of the last two NFL seasons and also reached this year's Super Bowl where they lost to the Seattle Seahawks.

The Broncos clarified that the team will not be for sale since one of Bowlen's seven children will eventually take ownership once they are ready to take over. Ellis will assume control of the team for now, but Bowlen's longtime right-hand man said that no one can replace the iconic owner.

"No one fills Pat Bowlen's shoes," Ellis said. "Everybody in this organization -- John Elway, John Fox, the players, the entire Broncos' employees, we understand what Mr. Bowlen's goals and objectives are and it's our obligation to fulfill them."

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