The Rocky Mountain News reported Friday that the two-time Super Bowl winner proposed to 41-year-old Paige Green during a trip to Italy last week.
Elway told the newspaper he was "looking forward to a long life together" with Green.
The 48-year-old Elway was previously married to Janet Elway for 18 years. They have four children.
Elway met Green during a celebrity golf tournament three years ago.
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