Broncos Sign CB Chris Harris To A Five-Year, $42.5M Extension

Update:

Chris Harris and the Broncos have both announced the deal.

Blessed to be In Denver 5 more years , thanks to all my teammates , coaches and fans for all the love and support . #NoFlyZone #BroncosUp

— Chris Harris (@ChrisHarrisJr) December 13, 2014

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Mike Klis of the Denver Post, citing two NFL sources, reports that the Broncos have locked up CB Chris Harris to a five-year contract extension worth $42.5 million.

• Klis adds that Harris receives a $10 million signing bonus to go along with $24 million guaranteed.
• The max value of this agreement is reportedly $49 million.
• Harris will now be under team control through the 2019 season.

This contract will make Harris the league’s highest-paid “No. 2” cornerback, and the total value of his contract leaves him No. 6 among all corners.

Broncos GM John Elway reportedly became personally involved in the negotiations, which actually helped talks between the parties to gain some momentum in recent weeks.

Harris, 25, was in the final year of his rookie contract, and although he’s one year removed from a major knee injury, he has proven to be among the best cornerbacks in the league. In fact, Pro Football Focus currently has him ranked as the best cornerback in the league.

This season Harris has appeared in 13 games and recorded 45 tackles, one sack, three interceptions, a forced fumble and a recovery to go along with 15 pass defenses.

We had him listed as the No. 6 player in our Top 25 – 2015 Free Agents list.

It will be interesting to see what the Broncos elect to do with impending free agents Demaryius and Julius Thomas in the coming months, as they both would be highly sought after players on the open market if they were to be available.