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Denver Broncos veteran Champ Bailey to be released

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Denver Broncos veteran cornerback Champ Bailey is to be released.

The Super Bowl contenders have released Bailey in an effort to free up some $10 million for the teams salary cap, according to CBS's Jason La Canfora.

He announced the news via twitter citing a lack of surprise due to the financial aspect of this release.

Bailey still holds the record for most Pro Bowls for a cornerback with twelve appearances.

He has been a Bronco since 2004 but started his career in Washington for the Redskins in 1999.

Despite his age, his veteran experience is sure to be a draw for many teams in free agency, especially a team drafting and building newer younger defensive line.

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