According to Mike Klis of the Denver Post, the deal is worth $43 million with $15 million guaranteed.
"The talent and leadership that Champ Bailey brings to the Broncos made it very important for us to keep him with the organization," Head Coach John Fox said. "I have admired him for a long time and I really look forward to having him on our team."
Bailey (6-foot-0, 192 pounds) completed his 12th NFL season in 2010 and his seventh with the Broncos. He was selected to the 2011 Pro Bowl-the 10th of his career-to set a record for the most by a cornerback in NFL history, passing Hall of Famer Mike Haynes (9).
Named to the NFL 2000s All-Decade Team, he has played 181 career games (181 starts) and recorded 864 tackles (729 solo), 48 interceptions (446 yds.), 213 passes defensed, three sacks (26 yds.), eight forced fumbles and five fumble recoveries. He has played six postseason contests (six starts), totaling 16 tackles (14 solo), two interceptions (105 yds.) and six passes defensed.
His 48 career interceptions rank first among cornerbacks (third among all players) since he entered the NFL as a first-round (seventh overall) draft choice by the Washington Redskins in 1999, and his 183 passes defensed (press box total) are tops among all players during the last 12 seasons.
Since being acquired by Denver via trade prior to the 2004 season, Bailey has totaled 30 interceptions (322 yds.), which rank sixth in the NFL during that span and tie him with Broncos Ring of Fame safety Dennis Smith for the sixth most in franchise history.
ADDITIONAL NOTES ON BAILEY:
- Began his NFL career starting 99 consecutive regular-season games and has totaled the second-most starts (181) among league cornerbacks since his rookie year in 1999.
- Has been penalized for defensive pass interference just three times in the last five years in the 360 times he was targeted (0.83%) according to Stats Inc.
- Recorded 18 interceptions with Denver from 2005-06, marking the most by an NFL player in a two-year stretch since Everson Wells had 18 interceptions for Dallas from 1981-82.
- Tied for the NFL lead in 2006 with a career-best 10 interceptions, which marked the second-highest single-season total in Denver history and propelled him to a second-place finish in the Associated Press' NFL Defensive Player of the Year voting.
- Won the 1998 Bronko Nagurski Award at the University of Georgia as the nation's top defensive player while also earning consensus All-America honors that year.
QUOTE FROM BRONCOS EXECUTIVE VICE PRESIDENT JOHN ELWAY ON CHAMP BAILEY:
"Champ is truly one of the NFL's elite players, a 10-time Pro Bowler who is playing at the absolute highest level. He demands greatness from himself at all times and is going to play a big part in returning the Broncos to championship contention.
"The commitment that Champ has shown to the Broncos, the city of Denver and this region is exemplary. He's been rightfully embraced by our community for how he's represented the Broncos with his play as well as his generosity and charitable efforts as a two-time Walter Payton Man of the Year nominee.
"We're fortunate to have Champ on the Denver Broncos for a long time. This is a GREAT day for our entire organization and all of Broncos Country."
QUOTE FROM BRONCOS GENERAL MANAGER BRIAN XANDERS ON CHAMP BAILEY:
"Signing Champ was a top priority this offseason. He has shown incredible loyalty to the Broncos organization and this community in his seven seasons with the club. His value on and off the field is immeasurable, and we couldn't be happier that he is positioned to finish his Hall of Fame career as a Bronco."