The Denver Broncos informed CB Champ Bailey Wednesday, March 5, that he will be released, according to a league source. Bailey was set to earn $9 million this season with a cap hit of $10 million.

Footballguys View: There was zero guaranteed money left in Bailey’s contract. That means the Broncos immediately get a $10 million bump in salary cap space. Right now they have around $28 million to spend on free agents. Expect the Broncos to be more active in free agency than some think.
Broncos | Champ Bailey to be released