John Elway says the Broncos are trying to re-sign perennial Pro Bowl cornerback Champ Bailey. Bailey was about to sign an extension with Denver at the end of last year before the team pulled the offer. The Broncos are not planning to use their franchise tag on Bailey because that would cost them about $15 million in guaranteed salary next season. If they don't sign him to a new deal, Bailey would become an unrestricted free agent when a new collective bargaining agreement is hashed out.