Reports had surfaced about the Denver Broncos being on the verge of securing a new deal with cornerback Chris Harris. It appears to have finally come to fruition.

There has been plenty of speculation regarding Harris future in Denver this offseason. President of Football Operations and general manager John Elway has since announced that both sides have agreed to a new deal for the 2019 NFL season, via the team's official Twitter:

“We have a lot of respect for what Chris as a player and for everything he's meant to our organization. This contract adjustment recognizes his value to our team and the high expectations we have for Chris as a Bronco this season and hopefully for years to come.”

ESPN NFL Insider Adam Schefter confirmed that it was indeed a one-year deal.

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Broncos announced they agreed to terms with cornerback Chris Harris Jr. on a new one-year contract.

Both sides have been in negotiation throughout the offseason, which resulted in Harris' absence from the team thus far. The star corner was initially slated to make $7.8 million in the final season of a four-year deal he signed back in 2014. There is no question that he is certainly deserving of a lucrative contract after being named a four-time Pro Bowler and three-time All-Pro in the last five seasons. It appears the new deal will provide both sides with a one-year cushion to potentially hash out a long-term deal.

It is no secret that the Broncos have ushered in some significant changes this offseason. Regardless, there is still plenty of optimism about a resurgence in 2019. Keeping Harris around will provide the secondary with some much-need stability as one of the league's premier lockdown corners. Although the veteran has spent the offseason nursing a broken fibula, he is still coming off a fantastic year after finishing the 2018 campaign with 49 tackles, 10 passes defended, and three interceptions in 12 games.