Elway, 37, injured the shoulder when he was thrown to the ground during a game in October, but did not report the injury until after the Super Bowl.
He has not decided whether to repair a torn biceps muscle in his right arm, sustained in a preseason game last year.
PATS: EX-OWNER SULLIVAN DIES Billy Sullivan, who brought pro football to Boston, died in Florida of cancer. He was 82.
Sullivan was the president of a fuel delivery company when he was granted the rights to an original franchise in the AFL. Sullivan served as an AFL president from 1961 to '64. He sold the team to Victor Kiam in 1988.
Sullivan sued the NFL for $116 million in 1991, claiming its refusal to allow him to sell stock to the public forced him to sell the team for what he considered less than it was worth. In 1996, he was awarded $11.5 million.
BEARS: Cox says he's gone
Temperamental linebacker Bryan Cox says the Chicago Bears have told him he'll be released June 1, a move he claims is in response to his criticism of team management. Cox, 30, said his agent is trying to work out a trade to get the Bears a draft pick. Cox is entering the third year of a four-year contract worth $13.2 million.
COWBOYS: SIGN GUARD MCIVER The Dallas Cowboys signed free-agent offensive lineman Everett McIver to a five-year contract worth $9.5 million, including a $3.5 million signing bonus. McIver, 27, played the past two seasons with the Miami Dolphins, and started 14 games at right guard last season.
OILERS: LEASE BUYOUT VOTE A proposal to allow the Tennessee Oilers to buy their way out of a two-year contract at the Liberty Bowl in Memphis will be voted on today, according to John Ryder, attorney for the Memphis and Shelby County Sports Authority. If the team does buy its way out of the contract, Vanderbilt Stadium in Nashville is the leading option for a home next season.
COLTS: Bring back Herrod
Indianapolis re-signed linebacker Jeff Herrod, who was released by the Colts before last season and had seven tackles in 10 games with the Eagles. Herrod, who played for the Colts from 1988 to '96, is the team's all-time leading tackler.
DOLPHINS: Re-sign Perriman
The Miami Dolphins re-signed unrestricted free-agent wide receiver Brett Perriman to a one-year contract. Perriman, 32, played in eight games for the Dolphins after being released by the Kansas City Chiefs during the season. The Dolphins also signed former San Francisco punter Klaus Wilmsmeyer, who did not play last season, to a one-year contract.
STEELERS: Name Sherman
As expected, the Pittsburgh Steelers introduced Minnesota Vikings quarterbacks coach Ray Sherman as their offensive coordinator. He succeeds Chan Gailey, the new Dallas Cowboys coach. Sherman, 46, was offensive coordinator for the New York Jets in 1994. In 1990, he was assistant head coach for offense with the Atlanta Falcons.