The Broncos were supposed to pay cornerback Champ Bailey $9 million in 2014. He’ll make 1/18th of that guaranteed in New Orleans.

Per a league source, NFLPA records reveal that the future Hall of Famer received $500,000 in guaranteed money as part of his two-year deal with the Saints. Initially reported as being worth “up to” $7 million, the contract pays out a base amount of $1.75 million in 2014 and $2 million in 2015, for a base value of $3.75 million.

To get the base amount in 2014, Bailey must be on the game-day roster for six or more games. If he is, he gets $250,000. If not, he will have made $1.5 million in 2014.

In 2015, the Saints owe a $250,000 roster bonus on the fifth day of the league year. Bailey gets another $250,000 if he’s on the 53-man roster for the first game of the 2015 season. The base salary is $1.5 million.

The deal also contains $150,000 in incentives per year based on interceptions, and $150,000 per year for Pro Bowl. He can make $1.2 million in 2014 or 2015 for playing time, and the deal includes a $1.2 million playing-time escalator for 2015.

If the NFLPA numbers are right, that’s a maximum value of $6.75 million, not $7 million. To get the $6.75 million over two years, Bailey will have to play like the guy who was supposed to make $9 million in the final year of his contract in Denver.