Denver Broncos quarterback Russell Wilson was one of the most dominant signal-callers in the league during his peak.
The Seahawks selected Wilson in the third round of the 2012 NFL Draft, picking him 75th overall. In his second season, he helped the team win the Super Bowl XLVIII in the 2013 season as the starter.
Aside from his lone Super Bowl win, Wilson's other achievements on the field include nine Pro Bowl selections, and he was honored as the Walter Payton NFL Man of the Year in 2020. He also led the NFL in passer rating in 2015 and topped the charts for passing touchdowns in 2017.
Read more: Russell Wilson Contract: What Will Happen to Broncos QB's $200M+ Deal Amid Rumors of Release?
Russell Wilson's trade to the Denver Broncos
After spending a decade with the Seahawks, Wilson was dealt to the Denver Broncos in March 2022. In exchange, the Seahawks received two first-round picks, two second-round picks, a fifth-round pick, quarterback Drew Lock, defensive lineman Shelby Harris, and tight end Noah Fant.
Shortly before the 2022 NFL season kickoff in September, Wilson inked a lucrative five-year contract extension valued at $245 million, featuring a whopping $165 million in guaranteed money.
This fresh deal, spanning from 2024 to 2028, commits him to Denver for an additional seven years following the trade, as he had two years left on his existing contract at the time of signing.
However, since this high-profile trade and extension, neither Wilson nor the Broncos have lived up to the lofty expectations. Wilson had the worst season of his career in 2022, going 4-11 and recording 3,524 passing yards and 16 touchdowns but also tallying 11 interceptions.
Russell Wilson's 2023 season
This season, the 35-year-old rebounded well in on-field performance, tallying 3,070 passing yards, 26 touchdowns, and eight interceptions in 15 games. The Broncos also went 7-8 in that span, which is a decent improvement but still far away from Super Bowl contention.
With just two games remaining in 2023, the Broncos decided to sideline Russell Wilson for the remainder of the season. Financial considerations primarily drove this move, as Wilson stands to secure an additional $37 million in guarantees if he fails a physical come March.
The Broncos were already trying to bench Wilson as early as Week 6, leading to a strained relationship between the two parties. The former Seahawk also expects to be cut from the team by March.
How much will letting go of Russell Wilson cost the Broncos?
Irrespective of the outcome, Wilson is set to collect his guaranteed salary of $39 million for 2024. Should the Broncos decide to release Wilson before March 17, they'd face an $85 million dead cap penalty for the 2024 season.
However, by choosing a post-June 1 release, the financial burden would be staggered over two seasons. Under this scenario, the team would grapple with a $35.4 million cap hit in 2024. It would also translate to an additional $49.6 million dead cap charges for 2025.
Regardless of their decision, the Broncos are looking at an $85 million financial consequence, with $39 million going directly to the quarterback.
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