By Anthony Caruso III
Posted: August 30th, 2014 at 4:14 pm EST
Corner back Champ Bailey has been released by the New Orleans Saints. Bailey will now hope to sign with a new team leading up to the start of the season next week.
Bailey, who signed with the Saints in the off-season, was beat out by undrafted rookie Brian Dixon. He was signed to be the No. 2 cornerback in the off-season.
At 36-years-old, Bailey had a hard time cracking the Saints defense. With his release, the team will now have to eat his $500,000 signing bonus.
He was limited to just five games last season in his final season with the Denver Broncos. Bailey spent the past decade with the Broncos after being traded from the Washington Redskins for Clinton Portis.