Speaking to reporters Monday during the annual end-of-the-season news conference, Broncos coach John Fox and vice president John Elway said under the circumstances they would again have quarterback Peyton Manning take a knee to run out the clock on the Denver 20-yard-line with 31 seconds remaining in regulation Saturday.

Baltimore, a 9-point underdog, ultimately won the AFC division-round playoff game 38-35 in double overtime at Sports Authority Field at Mile High.

A play earlier, the Ravens have evened the score at 35-35 when quarterback Joe Flacco hit wide receiver Jacoby Jones for a stunning 70-yard touchdown pass. Fox and Elway said Broncos players were “in shock,” and it was best for the team to run out the clock and regroup for overtime.

“That (70-yard Ravens TD) was pretty devastating,” Fox said. “There is a certain amount of shock value. It’s like a fighter being on the ropes — it didn’t seem like the time (for Manning to take any chances and) to go for a knockout punch.

“It didn’t seem to be the right time to go for the jugular. I’d do that again 10 times out of 10 if faced with that situation.”

Elway agreed.

“Our guys were in shock (after that 70-yard Ravens touchdown),” he said. “I thought (running out the clock) was the right move.”

Other issues addressed during the Monday presser:

• Successful season? — In light of failing to win a playoff game, Elway was asked if he considered this season to be a success. “Yes. If you look at two years ago to where we are now, we made a lot of strides,” Elway said. “But (the way the season ended) was disappointing.”

• The goal for 2013 — “The goal has not changed,” Elway said. “The goal is still to be world champions. We played well enough to put ourselves in position this year. We were on a roll. But we made some critical mistakes (Saturday). … This will be a motivating piece. By the time training camp comes, this is something we can use as a battle cry for next season.”

• Considering moving veteran cornerback Champ Bailey to safety? — “I don’t see that,” Fox said.

• Pleased enough with the progress of rookie Brock Osweiler to consider him the team’s eventual successor to Manning? — “I think so,” Fox said. “I like his temperament. I feel real positive about Brock Osweiler.” Said Elway of Osweiler: “I’m thrilled with his progress.”

• Does rookie cornerback Omar Bolden have the potential to be a starter? — “You bet,” Elway said. “He’s a fighter. His comment to me was that he is going to come back for next season and take somebody’s job.”

• On Pro Bowl left tackle Ryan Clady potentially becoming an unrestricted free agent — “We’re going to hopefully try to get something done with Ryan (to lock him up),” Elway said.

Tom Kensler: 303-954-1280, tkensler@denverpost.com or twitter.com/tomkensler