Ready for a good news/bad news scenario, Bronco fans?

The good news is that Champ Bailey and your team are talking contract again.

The bad news is that according to Inside the NFL’s Josina Anderson, the 10-time Pro Bowler just put his Colorado home up for sale. If Bailey thought the Broncos were willing to offer him more than a one-year deal, then it seems unlikely that he’d stick a for sale sign in his front yard.

One option for Denver is to assign Bailey the franchise tag and lock him in for one year. But the Broncos don’t want to pay a 32-year-old corner $15 million for one season, even if he is Champ Bailey.

The other problem is that the Broncos shouldn’t be playing for 2011. I understand that in today’s NFL, turnarounds can happen quickly but this team needs an upgrade at every level defensively. Even if they were to re-sign Bailey, nothing says that the Broncos won’t take someone like LSU’s Patrick Peterson with the No. 2 pick in this year’s draft. They need to build for the future.

As hard as it would be, maybe the Broncos would be better off allowing Bailey to go to a contender that will shell out big money for 2-3 years. No team wants to let talent walk out the door and Bailey is the consummate professional. But teams aren’t created equal. Some need one or two pieces to make a Super Bowl run, while others are starting over. The Broncos are in rebuilding mode and unless they seriously believe they can build a winner in the next two years, why pay Bailey to hang around?