DENVER — The Denver Broncos are expected to release perennial Pro Bowl cornerback Champ Bailey, a person familiar with the situation told The Associated Press on Wednesday night.

The person spoke on condition of anonymity because no announcement was made.

By releasing Bailey, the Broncos would open up cap space with the 12-time Pro Bowl player scheduled to make around $10 million next season.

Bailey was sidelined most of the season by a nagging left foot sprain. The 35-year-old shutdown corner returned late in the season to help the Broncos advance to the Super Bowl, where they lost 43-8 to Seattle.

Bailey was acquired in 2004 by the Broncos in a deal that sent running back Clinton Portis to the Washington Redskins.

A message was left with Bailey's agent.