On Thursday, Elway tweeted that the team wanted cornerback Champ Bailey to finish his career as a Denver Broncos. On Monday, Elway announced that the Broncos had agreed to terms on a new four-year contract with Bailey.
Terms of the deal have not been announced by the team, but reportedly the four-year deal is worth around $43 million with $15 million of that in guaranteed money. Bailey will now be under contract with the Broncos through the 2015 NFL season.
"Champ is truly one of the NFL's elite players, a 10-time Pro Bowler who is playing at the absolute highest level," said Elway. "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."It is a great day to be a Broncos fan! Former NFL sack-king Elvis Dumervil will be returning next season, Champ Bailey will be returning and the team holds the second overall selection in the upcoming NFL Draft. Bright days are ahead for Denver.