Former Broncos cornerback Champ Bailey during his 1 p.m. retirement news conference on Tuesday, allowing him to retire as a Bronco.
The Broncos released Bailey in March, ending his 10-year run with the team. Broncos general manager John Elway had offered Bailey the chance to retire on his own terms, but Bailey said he wasn’t ready. He eventually signed a contract with the New Orleans Saints guaranteeing him $500,000 if he made the team, but he was cut before the season opener. He later worked out with the Detroit Lions and the Baltimore Ravens .
The move is similar to one the Broncos made with former NFL record holding kicker Jason Elam, after becoming eligible for the first time. after signing a one-day contract with the Broncos on March 31, 2010.
