According a report from ESPN's Saints beat writer Mike Triplett, the New Orleans Saints have signed future Hall of Fame cornerback Champ Bailey.

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Twitter/@MikeTriplett
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Bailey commented to The Denver Post that his plan is to compete for the starting cornerback spot opposite Keenan Lewis.

NFL insider Adam Schefter of espn reports that the deal could be worth up to $7 million.

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Twitter/@AdamSchefter
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Saints general manager Mickey Loomis released the following statement regarding the signing:

"We are excited to be able to add a future Hall of Fame player with the addition of Champ Bailey. His career accomplishments mirror that of his high character and he's a very prideful and competitive player who we believe will add to our defense. Having spent time with him recently and in our discussions with him, I know that he's thrilled to be joining the New Orleans Saints and starting a new chapter in his professional life."

Bailey, a 12-time pro bowler, is a 15 year veteran and future Hall of Famer. However, he's coming off the least productive season. Bailey was limited to 5 games last year, battling a foot injury. He played during the postseason for the AFC Champion Denver Broncos, but was a step slow and struggled in coverage.

At 35 years old, the Saints are hoping the veteran can find his old form. Many young players on the Saints look up to Bailey, and tweeted their excitement today.

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twitter/@T_Armstead72
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twitter/@coreywhiteJr3
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For his career, Bailey has put up gaudy numbers. 925 tackles, 203 passes defensed, 52 interceptions, 9 forced fumbles and 4 defensive touchdowns.

Bailey will compete for the starting cornerback slot opposite Keenan Lewis. Corey White and Patrick Robinson would be his likely competitors.

Photo by Doug Pensinger/Getty Images
Photo by Doug Pensinger/Getty Images
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