Denver Broncos head coach John Fox has insisted that it has been a "privilege" to have coached cornerback Champ Bailey in the three years since he took over the club.

The Broncos announced the release of the veteran Bailey on Thursday, and Fox said that the player was a vital part in the team's success in recent seasons.

"I consider it a privilege to have coached Champ these last three years," Fox told the Broncos' website. "I thank him and truly appreciate everything he did for our team.

"There's no doubt he played an integral role in establishing a culture of winning here. Aside from his natural ability, Champ set a great example with his hard work and relentless commitment to mastering his craft."

Bailey has played in the NFL for 15 seasons, first for the Washington Redskins before joining the Broncos in 2004.