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Broncos release Champ Bailey

Updated: March 6, 2014, 2:28 PM ET
ESPN.com news services

The Denver Broncos released 12-time Pro Bowl cornerback Champ Bailey, who had a $1 million roster bonus due March 15, the team confirmed Thursday.

League sources told ESPN NFL Insider Adam Schefter on Wednesday that the Broncos were on the verge of cutting Bailey.

The Broncos save $10 million in cap space with the move.

"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," said ...

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