The Broncos agreed to a four-year contract with CB Champ Bailey, executive vice president of football operations John Elway announced.
The deal is worth $43 million, including $15 million guaranteed, according to the Denver Post.
Bailey, 32, is entering his 13th season in the NFL and his eighth with the Broncos. The 10-time Pro Bowler has 48 career interceptions.
Last week, Elway said, "We've been working with Champ Bailey's representative this week on a new contract, which is an important priority for us." This was following a report that Bailey had put his Denver-area house up for sale.
"Champ is truly one of the NFL's elite players, a 10-time Pro Bowler who is playing at the absolute highest level," Elway said Tuesday. "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."
The way we see it
With his house going on the market and reports that talks were not going well, enough rumors had been swirling, indicating that Bailey might leave Denver, that a small rally was held by fans to show their support. The Broncos finished 25th in the league in pass defense, and Bailey is the best they have in the secondary. This was a good move by the team to keep the corner in Denver, likely until he retires.