BRONCOS PART WAYS WITH QB RUSSELL WILSON, TAKE ON NFL RECORD $85 MILLION IN DEAD MONEY
The Denver Broncos have informed quarterback Russell Wilson that he is being released, as first reported by NFL Network’s Ian Rapoport.
The Broncos are set to release Wilson after the league year begins on March 13th, just two years after acquiring him in a blockbuster trade with the Seattle Seahawks. Wilson was traded to Denver for two first-round picks, two second round picks, a fifth rounder, and three other players in March 2022. Amongst the players traded for Wilson were QB Drew Lock, TE Noah Fant, and DL Shelby Harris.
The move not only allows both head coach Sean Payton and Russell Wilson to start fresh but also gives the organization a clean slate at quarterback. It, however, does not come cheap. In releasing Wilson, the Denver Broncos will pay him $39 million in 2024 but will avoid a $37 million trigger for the 2025 season, which would have taken effect this month.
Denver will, however, still take on an NFL record $85 million in dead money by releasing Wilson, which is more than the last two dead money records combined. Wilson previously signed a five-year, $245 million extension in September of 2022 and has earned more than $120 million of that money since, meaning the Broncos have paid him more than half his contract for just 30 regular season starts.
The Broncos released a statement from general manager George Paton and head coach Sean Payton on Monday, which read: “We spoke with Russell Wilson today to inform him of his release after the start of the league year. On behalf of the Broncos, we thank Russell for his contributions and dedication to our team and community while wishing him the best as he continues his career.”
“As we move forward, we are focused on building the strongest team possible for the 2024 season and beyond. We are excited to improve this offseason and will have the flexibility to get better through the draft and free agency.”
With Wilson out of the equation, the Broncos are expected to dive into their quarterback options at the start of the league year, which would include both free agency and the 2024 draft. Denver currently holds the 12th overall pick in the draft and could select one of Caleb Williams, Jayden Daniels, Drake Maye, JJ McCarthy, or Michael Penix Jr., if any fall to them in what is considered a deep quarterback draft class.
As for Wilson, the nine-time Pro Bowler will, for the first time in his career, test the free agent market. Wilson, 35, could be available for a team needing a starter and with the $39 million due to him in 2024 by the Denver Broncos, the Super Bowl XLVIII champion is set to be a cheap free agent as any potential landing spots are set to acquire him on a veteran minimum salary.
Amongst the teams that could be interested in Wilson’s services include the New Orleans Saints, Minnesota Vikings, Pittsburgh Steelers, or Atlanta Falcons.
Wilson was benched for the Broncos’ remaining last two games of the season last year for Jarrett Stidham, which seemed like the writing on the wall in Denver for the Cincinnati-born man. Sitting Wilson with little to play for ensured the QB didn’t suffer a significant injury and provided the Broncos with the financial flexibility to move on from him and avoid paying out a massive 2025 guarantee.
The Broncos will now move forward with Stidham, and Ben DiNiucci as the only two players in their quarterback room, two QBs with a total five career starts since coming into the league.
Wilson released a lengthy statement following confirmation of his release by the team, specifically thanking multiple people within the Broncos organization, including the cafeteria workers and so many others. The former Seattle Seahawks quarterback notably stopped short of thanking GM George Paton and HC Sean Payton.
“Broncos Country, Thank You! Over these last two years,” said Wilson. “You have welcomed my family and me with open arms and have embraced us as members of the Denver community. This city will always hold a special place in my heart. Our family grew here, we made countless memories and friendships, and formed relationships that will last a lifetime.”
Wilson went on to thank his teammates, his coaches and their assistants, the cafeteria workers, and the Broncos pastor in his farewell statement. “Tough times don’t last, but tough people do. God’s got me. I am excited for what’s next. #3,” Wilson concluded.
-Maher Abucheri
Twitter: @pabloikonyero
Photo: US SMDC. This file is a work of a U.S. Army soldier or employee, taken or made as part of that person’s official duties. As a work of the U.S. federal government, it is in the public domain in the United States.