Broncos Set to Release CB Champ Bailey

Getty_S_81712_NFL Field.jpg?__SQUARESPACE_CACHEVERSION=1394092276192Doug Pensinger/Getty Images (NEW YORK) -- The Denver Broncos will release 12-time Pro Bowler Champ Bailey, reports ESPN NFL insider Adam Schefter. Bailey had a $1 million roster bonus due March 15, but the team will let Bailey go elsewhere, which gives the Broncos $10 million in cap space for other free agents.

Bailey was entering the final year of his contract and witnessed his team get blown out by the Seahawks in the Super Bowl last month.

He was drafted by the Redskins with the seventh overall pick of the 1999 draft and was traded from Washingto to Denver in 2004. Bailey only recorded 14 tackles last season and had no interceptions.

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