By Shelby Hancock | Staff Writer|

Head Coach John Fox of the Denver Broncos is out.

Fox and the Broncos have mutually parted ways according to ESPN writer Jeff Legwold on January 12 2015.

In a statement released by the Broncos, both Fox, and Executive Vice President of Football Operations John Elway decided the time was right for the separation.

Elway said, “On behalf of the Broncos, I sincerely thank John for his many contributions during his four seasons as head coach. He helped establish a positive, winning culture for this team and deserves a lot of credit for the Broncos’ turnaround.”

The agreement was made Jan. 12, just one day after the Broncos were eliminated from the playoffs with a 24-13 loss to the Indianapolis Colts.

Fox held the team record of having four straight playoff appearances while coaching the Broncos according to CBS reporter John Breech.

Many allegations were made by analysts across NFL Live that Elway was not happy about elimination from the 2015 playoffs.

“While we have made significant progress under Coach Fox, there is still work to be done,” said Elway.

Elway, who won back to back Super Bowls during his time as a Bronco, is set on putting a team together that can win it all.

The last time the Broncos won a Super Bowl, the team featured stars like Elway, Terrell Davis and head coach Mike Shanahan.

The 2014 Super Bowl was the first time in 15 years that the Broncos reached the big game, resulting in a blow out, losing 43-8 to the Seattle Seahawks.

Overall, Fox holds a 46-18 record in his career with the Broncos.

This season, attaining a record of 12-4, making him the first coach since 2009 not returning after a 12 win season according to Breech.

Fox reflected on his last four years with the Broncos.

“Although we came up short of our ultimate goal, I am proud of our team’s many accomplishments during these last four years” Fox said.

“I truly appreciate all the hard work put in by every player, coach and staff member within this organization” said Fox.

Bronco Cornerback Carl Harris Jr. told the press about advice Fox gave upon departure.

“He just appreciated everyone’s efforts, he just loved us and everyone just be smart in the off season and make sure you take care of your body to be ready to come back ready to roll when OTAs start,” said Harris.

According to Legwold, Elway and the rest of the Broncos management told Fox’s coaching staff to look for new jobs as well, mutually releasing all of the Broncos coaching staff.

Fox doesn’t seem defeated, “I am eager to continue my coaching career and look forward to the opportunities that lie ahead,” said Fox according to Legwold.

According to Breech, “Fox immediately becomes a very attractive candidate for any job opening.”

Although Fox is no longer the head coach, due to contractual agreement, the Broncos will continue to pay Fox, up to two years salary, until he secures another coaching position, according to ESPN.

Multiple sources have reported that Fox has been in contact with the management of the Chicago Bears and will be setting up an interview in the near future according to NBC reporter Darin Gantt.