Chris Harris, Broncos Agree to New Contract: Latest Details, Analysis, Reaction

The Denver Broncos weren't going to let one of the best cornerbacks in the league slip right through their fingers.

The Broncos and Chris Harris agreed to a deal worth $42.5 million over five years. The team announced the deal on Friday.

Mike Klis of The Denver Post first reported the deal.

Mike Garafolo of Fox Sports broke down the details:

The Broncos provide comments from John Elway:

Harris was set to become an unrestricted free agent after the season.

The 25-year-old is tied for the team lead in interceptions, with three, and he's also first on Denver in passes defended, with 15. Pro Football Focus' Pete Damilatis pointed out that Harris has the second-highest grade among cornerbacks on the site, trailing only Darrelle Revis:

The Denver Post's Troy Renck believes that signing Harris to an extension not only provides an on-field impact but also serves to show other players that their strong performances will be richly rewarded:

The Broncos have seen major improvement defensively in 2014, especially against the pass. In 2013, Football Outsiders ranked Denver 21st in pass defense DVOA (defense-adjusted value over average) and 15th in defensive DVOA. In 2014, those numbers are up to third and fifth, respectively.

Harris can't take sole credit for the jump, but his continued emergence has helped turn Denver's defense from a weakness into an area of strength, possibly providing that slight nudge to get the Broncos a third Super Bowl title.