So much for the rumors that cornerback Champ Bailey wouldn’t be back with the Denver Broncos.
According to the Denver Post, the Broncos have re-signed Bailey to a four-year, $43 million extension that includes $22 million in guarantees. The announcement was first made by Denver’s executive vice president of football operations, John Elway, via Twitter.
Bailey, who turns 33-years old in June, has been adamant about playing for a contender; the Broncos didn’t meet that criteria as they’re clearly in rebuilding mode. A divorce was looking almost certain, but Elway clearly wanted to retain the 10-time Pro Bowler.
For the next two seasons, Bailey is set to earn $11 million in guaranteed salary, while his 2013 and 2014 salary is also guaranteed at $10.5 million. So, as the Post points out, after incentives, the total amount of the deal means he is essentially receiving a yearly raise of about $2 million.
Both sides are ultimately happy a new contract was reached, preventing the team from shedding one of the game’s better cover corners.
“We are thrilled to announce that the Broncos have agreed to terms on a new four-year contract with cornerback Champ Bailey,” Elway said. “Champ is truly one of the NFL’s elite players, a 10-time Pro Bowler who is playing at the absolute highest level.”
“One thing I’ve learned is, the grass is not always greener,” Bailey said by conference call. “You can look at an organization that looks like they’re ready but they’re not ready. And then I’m miserable because I’m around a lot of unfamiliar faces in an unfamiliar place.
“I thought about that. I thought about being on the market but all in all, it didn’t really take me to forgive them. There’s new people in charge there. I know I could have got something worked out once Josh McDaniels left. And things did work out didn’t they?”
