The Denver Broncos made it to the Super Bowl this past year without All-Pro cornerback Champ Bailey most of the year. Even when he returned to the field after a multitude of injuries, it was clear he was just a shell of himself, and Denver could no longer afford to pay him like an elite CB.
They eventually released him before signing Aqib Talib away from the Patriots, and Bailey hasn't drawn much interest since the start of NFL Free agency.
Bailey did finally get a visit setup with the Saints this week, and now they've reportedly signed him to a 2-year contract:
Champ Bailey's agent confirms he's reached agreement on a two-year deal with the Saints, as @MikeTriplett reported.— Mike Garafolo (@MikeGarafolo) April 4, 2014
Future Hall of Fame DB Champ Bailey will be signing with a team today. Met with the Saints earlier this week— Jason La Canfora (@JasonLaCanfora) April 4, 2014
Bailey was able to play just 333 snaps last year, mostly due to a foot injury suffered in the preseason. At age 35 with 15 NFL seasons behind him, he's probably not worth a contract worth more than a few million and no guaranteed money beyond this season.