The Denver Broncos and All-Pro cornerback Champ Bailey have agreed on a new contract deal. John Elway, legendary quarterback and Executive V.P. of Football Operations for the Broncos, announced Tuesday via Twitter that the team and Bailey had agreed on a new four-year extension.
“We are thrilled to announce that the Broncos have agreed to terms on a new four-year contract with cornerback Champ Bailey.”
Elway then added in subsequent tweets:
“Champ is truly one of the NFL’s elite players, a 10-time Pro Bowler who is playing at the absolute highest level.”
“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 four-year contract extension is reported to be worth $43 million. Bailey, a 10-time Pro Bowler, is guaranteed to make $11 million in 2011, which is $2 million less than what he made last season.
A similar deal was taken off the table by the Broncos earlier in 2010 and negotiations were shelved until after the season. Contract talks resumed last week but no deal was reached until today.
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