Reuters

The Broncos were supposed to pay cornerback Champ Bailey $9 million in 2014. He’ll make 1/18th of that guaranteed in New Orleans.

Per a league source, NFLPA records reveal that the future Hall of Famer received $500,000 in guaranteed money as part of his two-year deal with the Saints. Initially reported as being worth “up to” $7 million, the contract pays out a base amount of $1.75 million in 2014 and $2 million in 2015, for a base value of $3.75 million.

To get the base amount in 2014, Bailey must be on the game-day roster for six or more games. If he is, he gets $250,000. If not, he will have made $1.5 million in 2014.

In 2015, the Saints owe a $250,000 roster bonus on the fifth day of the league year. Bailey gets another $250,000 if he’s on the 53-man roster for the first game of the 2015 season. The base salary is $1.5 million.

The deal also contains $150,000 in incentives per year based on interceptions, and $150,000 per year for Pro Bowl. He can make $1.2 million in 2014 or 2015 for playing time, and the deal includes a $1.2 million playing-time escalator for 2015.

If the NFLPA numbers are right, that’s a maximum value of $6.75 million, not $7 million. To get the $6.75 million over two years, Bailey will have to play like the guy who was supposed to make $9 million in the final year of his contract in Denver.

It’s not impossible that he will. Bailey played very well when healthy in 2013. The only problem is that he wasn’t healthy for much of the season, due to a foot injury suffered in the preseason.