Broncos cut quarterback Russell Wilson, eat $85 million in dead cap
The Denver Broncos are in need of a starting quarterback after releasing veteran Russell Wilson on Monday. The ramifications around releasing the former All-Pro will be felt by both sides.
"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," general manager George Paton and coach Sean Payton said in a joint statement.
"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."
Wilson never worked out with the Broncos after trading five draft picks and three players and then signing him to a massive five-year, $242.6 million contract extension.
During his failed tenure with the Broncos, Wilson played in 30 games and went 11-19 while never reaching the playoffs. With his release, Denver will suffer a $85 million dead-cap hit that will be split over the next two seasons.
In his first season with Denver, he completed a career-worst 60.5 percent of his passes and tossed 16 touchdowns and 11 interceptions. The Broncos went 5-12 and then head coach Nathaniel Hackett was fired after just 15 games.
Sean Payton was then hired in February 2023 and soured on his expensive franchise quarterback. Payton wanted Wilson to restructure his contract, he refused, his poor play on the field resulted in being benched over the final two weeks of the season.
As a starter in his final season with the Broncos, he complied a 7-8 record, 66.4 completion percentage, a career-low 3,070 passing yards, 26 touchdowns and eight interceptions.
The full Russell Wilson trade
Wilson at this introductory press conference on March 16, 2022: "This is a gift for me. I'm so grateful to be around such amazing people. My goal is to play 10 or 12 more years and hopefully win three or four more Super Bowls. That's the plan. That's the mindset.''
Seahawks acquired:
QB Drew Lock
TE Noah Fant
DL Shelby Harris
2022 2nd Rounder - OT Charles Cross
2022 2nd Rounder - OLB Boye Mafe
2022 5th Rounder - OLB Tyrese Smith
2023 1st Rounder - CB Devon Witherspoon
2023 2nd Rounder - Edge Derick Hall
Broncos acquired:
QB Russell Wilson
DL Eyioma Uwazurike
Where does Wilson go from here?
New England Patriots
Wilson doesn’t feel like a fit for Foxboro. New England owns the No. 3 overall draft pick and could select their potential future franchise quarterback. Wilson will turn 36 next season and the Patriots need someone who they can build around and not an old broken down quarterback.
Atlanta Falcons
The two sides don’t seem like a natural fit. The Falcons have numerous offensive weapons and are a quarterback away from being a competitive team in the NFC.
Atlanta has been linked early to free agent Kirk Cousins and potentially trading for Bears quarterback Justin Fields.
Minnesota Vikings
Cousins isn’t likely to end up back with the Vikings. Wilson could be an option for the Vikings if the cost is right and they could go into the draft and select a quarterback to stash and develop.
Tampa Bay Buccaneers
If Baker Mayfield bolts in free agency, the Bucs could opt to sign Wilson as a stop gap while they go back into the draft and potentially select their next quarterback.
On Monday, Mike Evans signed an extension, likely signaling Mayfield’s return. In addition, Tampa Bay hired Liam Coen who worked with Mayfield with the Rams.
Wilson to Tampa Bay is a bridge option, cost would need to right for both sides. This only happens if Mayfield leaves next week in free agency.
