Broncos sign Champ Bailey to 4-year deal
DENVER — The Denver Broncos have signed Champ Bailey to a four-year deal, keeping the perennial Pro Bowl cornerback off the free agent market.
John Elway, the Broncos’ chief of football operations, announced the move in a series of tweets this afternoon.
“Champ is truly one of the NFL’s elite players, a 10-time Pro Bowler who is playing at the absolute highest level,” Elway wrote on Twitter. “The commitment and loyalty that Champ has shown to the Broncos, the city of Denver and this region is exemplary. We’re fortunate to have Champ with the Broncos for a long time. This is a GREAT day for our entire organization and our fans.”
Bailey, who turns 33 in June, just played in his 10th Pro Bowl, a record for cornerbacks.
His new deal is believed to be worth between $40 million and $44 million, less than the going rate of about $15 million per year for elite cornerbacks.
Although Bailey has long maintained he loved playing in Denver, it had begun to look like the Broncos would lose him this offseason.
The team had pulled a four-year offer off the table in October, concerned about his age and the league’s labor uncertainty. But the Broncos reopened talks with his representatives this month.