So much for the theory that players couldn’t score big long-term deals in these uncertain labor times.
The Broncos agreed to a four-year deal with Champ Bailey on Tuesday, according to John Elway’s Twitter account. (Suddenly transparency may seem less exciting to Broncos reporters.)
“We’re fortunate to have Champ with the Broncos for a long time,” Elway wrote. “This is a GREAT day for our entire organization and our fans.”
This is a move that will be extremely popular with Broncos fans and media alike. Bailey, set to turn 33 before next season, was on top of his game in 2010 and is worth huge money. We still question whether this was the right signing for the Broncos organization at this time.
The goal is to win titles. Will Bailey really be worth his salary when the Broncos could possibly be a contender?
Signing aging cornerbacks to big money deals rarely pays off, and it’s not like Bailey is the one piece that will put the Broncos defense over the top. We’ll follow up when we know more about the contract terms.
UPDATE: The initial Bailey numbers are team-friendly. Mike Klis of the Denver Post reports the deal is for four years and $43 million. Bailey will get $11 million guaranteed in the first year and $4 million guaranteed in the second year. If those numbers hold up, Bailey gave up some potential earnings on the open market to get security now.