The Denver Broncos have confirmed their decision to release quarterback Russell Wilson, as announced on Monday. This move comes two years after acquiring Wilson in a high-profile trade with the Seattle Seahawks, which involved multiple draft picks and players.
The release will take effect after the start of the new league year on March 13, according to Broncos Wire. The decision to trade for Wilson proved wrong in hindsight, compounded by the team’s subsequent misstep of awarding him a five-year, $245 million contract extension before he even played a game for the Broncos.
Despite the high expectations, Wilson’s tenure in Denver lasted only two seasons, during which the team posted an 11-19 record with him as quarterback. The quarterback’s performance statistics over 30 games included a completion rate of 63.3%, 6,594 passing yards, 42 touchdowns, and 19 interceptions. He also rushed for 618 yards and six touchdowns but was sacked 100 times.
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Despite posting improved numbers under Sean Payton’s coaching in 2023 compared to Nathaniel Hackett’s in 2022, Wilson didn’t seamlessly fit into Payton’s offensive scheme. As the Broncos faced elimination from playoff contention last season, the player was benched for the final two games. Wilson disclosed that Denver had threatened to bench him earlier in the season if he didn’t agree to alter his contract, which he refused.
Despite the team’s claim that the benching was purely a football decision, they are now releasing Wilson, a move likely to have financial repercussions. The Denver Broncos’ decision to release Wilson will result in the largest “dead money” cap hit, likely to reach a record-breaking $53 million or $35.4 million in 2024, with additional hits in 2025.
Despite this financial burden, Wilson’s availability at a potentially reduced cost may make him an attractive option for other teams, possibly even signing for the league minimum. Several teams, including the Pittsburgh Steelers, Las Vegas Raiders, and Atlanta Falcons, could pick the chase for Wilson’s services as a free agent.
With Wilson’s departure, the Denver Broncos now have Jarrett Stidham and Ben DiNucci as their only quarterbacks under contract for 2024. They may seek a veteran replacement through free agency, and they also possess the 12th overall pick in the upcoming NFL draft. Denver is expected to add at least one more quarterback through either free agency or the draft.
Meanwhile, 35-year-old Wilson, who will become a free agent, took to Instagram to share a statement, saying he is grateful to the city of Denver, employees of the Broncos and his now-former teammates.
“Over these last three years, you have welcomed my family and me with open arms and have embraced us as members 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,” he wrote.
“To my teammates, thank you for going to battle together and for being there through it all. There are so many moments I cherish because of you and I am blessed for the impact you have had on my life. I am beyond grateful for all of you and to have been able to run out as your teammate was an honor.”
“Tough times don’t last,” Wilson said, “but tough people do. God’s got me. I am excited for what’s next.”
