The 2006 fifth-rounder started 79 of the 90 games he played in over his eight seasons with the team, but only dressed for 11 games over the past two seasons.
As expected, the Broncos have tendered restricted free agents Chris Harris (second round, $2.187M) and Mitch Unrein (right of first refusal, $1.431M), and nontendered Trindon Holliday.
According to PFT, the Broncos have opted not to tender return man Trindon Holliday as a restricted free agent.
Instead, the boom-or-bust player will be free to sign with any team, for a salary that we believe could be as low as $570K.
The Broncos announced their release of Champ Bailey on Thursday afternoon. Said John Elway in a statement:
This was a difficult decision for our team with everything that Champ Bailey has meant to the Denver Broncos and this community over the last 10 years. Without question, he’s among the best cornerbacks to ever play the game and one of the finest players in the history of the Broncos. You couldn’t ask for more in a player than what Champ brought to this team. His combination of elite talent, class, leadership and competitiveness made him one of the all-time greats.
Jackson had visited Denver, Tennessee, and Miami, and had reportedly drawn interest from Arizona and Minnesota as well.
Legendary corner Champ Bailey will be released by the Broncos after ten seasons with the team.
The three-time All-Pro and 12-time Pro Bowler was told of the decision by Johns Elway and Fox on Wednesday.
Bailey was not offered a chance to renegotiate a lower salary or position move, but acknowledges he may have to shift to safety to catch on elsewhere.
According to Mike Klis, Peyton Manning has passed his annual neck exam and has been cleared to play in 2014.
Meanwhile, Peter Burns hears that four teams have inquired about the availability of Brock Osweiler, but were turned away by the Broncos.
Obviously, neither of these news items is particularly surprising, and business at Dove Valley will continue on normally.
According to Jeff Legwold, Peyton Manning's all-important neck exam will take place sometime on Monday.
The checkup is considered a mere formality, as the 2013 NFL MVP has apparently had no issues with his four-times surgically repaired neck.
According to Over the Cap, Denver now has $19.44M with which to work. They can easily double that space by cutting the contracts of Champ Bailey ($10M in savings), Chris Kuper ($4.084M), Jacob Tamme ($3M), and Joel Dreessen ($2.5M), if they're so inclined.
Pending free agent wideout Jeremy Maclin got the prove-it deal he wanted from the Eagles, as the two sides have agreed to a one-year deal.
Maclin, who will turn 26 in May, suffered a season-ending ACL injury during training camp last year. He reportedly got $3.5M in guarantees for 2014, with a maximum value of $6M.