Before the start of the 2022 season, Russell Wilson signed a five-year, $245 million contract extension with the Denver Broncos that was set to take effect this season, but he was waived by the team before the extension began. Ta.
The Broncos released Wilson when free agency opened earlier this month, and a few days later he found a new home with the Steelers in Pittsburgh.
Denver still needs to pay $39 million for Wilson this season alone (they’ve already paid $85 million of the $124 million guaranteed at the time of his contract). His release leaves him with a dead cap hit of $85 million over the next two years.
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Denver Broncos head coach Sean Payton speaks with Denver Broncos No. 3 Russell Wilson before a game against the Miami Dolphins at Hard Rock Stadium in Miami Gardens, Florida on September 24, 2023. . (Megan Briggs/Getty Images)
All of these factors would normally prevent teams from releasing players, but the Broncos felt it was necessary, even with the money owed.
Broncos head coach Sean Payton was asked if it was “hard” to let him go because of the dead cap hit and other money owed him. he was very frank.
“no.”
Denver Broncos head coach Sean Payton during warmups against the Las Vegas Raiders at Allegiant Stadium on January 7, 2024 in Las Vegas, Nevada. (Candice Ward/Getty Images)
The Broncos acquired Wilson from the Seattle Seahawks in a blockbuster trade before the start of the 2022 season. Denver gave up multiple draft picks in the deal along with Noah Fant, Shelby Harris and Drew Lock.
The Broncos hired Payton to replace Nathaniel Hackett after finishing 5-12 in the 2022 season, but also coming off a decisive win over the eventual Super Bowl champion Kansas City Chiefs. Regardless, Wilson ultimately lost the job to Jarrett Stidham.
Wilson appeared in 15 games during the 2023 season. He had 3,070 passing yards, 26 touchdown passes, and eight interceptions.
Russell Wilson No. 3 of the Denver Broncos warms up before an NFL football game against the Los Angeles Chargers at Empower Field at Mile High on December 31, 2023 in Denver, Colorado. (Perry Knotts/Getty Images)
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The Steelers also made a surprising move in the Justin Fields trade. The team has reportedly said Fields will back up Wilson, but many believe that won’t be the case for long, if at all.
Fox News’ Ryan Gaydos contributed to this report.
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