It was a day full of statements — both literal and implied — for the Broncos’ new ownership group, for general manager George Paton and for quarterback Russell Wilson.
Wilson’s five-year, $245 million contract extension on Thursday was an emphatic declaration by owner/CEO Greg Penner and Co. that his flush-with-cash family will spend.
“To have this new ownership group come in and put their stamp on this organization by doing something like this, it’s just unbelievable,” coach Nathaniel Hackett gushed.
The deal was validation for Paton, who swung for the fences in March to send five draft picks and three players to Seattle for Wilson, and will now have No. 3 as his No. 1 guy well into this decade.
“I believe this deal is a win-win for everyone,” Paton said.
And it was a message sent by Wilson, who before playing his first regular season game, committed to his new franchise well beyond the remaining two years on his contract.
“My goal is to be able to finish my career here,” Wilson said during a news conference attended by wife, Ciara, children Future, Sienna and Win, and agent Mark Rodgers.
Finish his career with the Broncos and add another Super Bowl title (or two) to his legacy and join Tom Brady and Peyton Manning as the only quarterbacks to win a title with two franchises.
And to win, quarterbacks in general and quarterbacks playing in the second decade of their careers in particular need help. They need receivers who can get open quickly. They need running backs who can gain yards to set up the play-action pass. And they need reliable pass protection so the sacks and knockdowns are limited.
The main takeaway from the Wilson deal — which has a high cap number of $58.4 million in 2026, according to a league source, and pays out $124 million from 2022-24 due to the moving around of cash — is it is a large financial commitment, but one that won’t cripple the Broncos’ cap.
Paton will be able to re-sign outside linebacker Bradley Chubb if he chooses.
Paton will be able to probe the free-agent market for additions, which will be important without first- and second-round draft picks next year.
And Paton will be able to allocate the money to eventually extend cornerback Pat Surtain II and running back Javonte Williams, already two of the team’s bedrock players entering their second year.
“This allows us to continue building and maintaining a championship roster,” Paton said.
The timing was good because the 11-year, $110 billion television contract begins in 2023 and the salary cap could go from $208.2 million this year to $225 million next year to $250 million in ’24 … and keep going up.
“I had an amazing first decade of my career (in Seattle) and the next decade, I’m really excited about it,” Wilson said. “To me, it’s really about being able to win championships and have enough space under the salary cap so George can make his magic and we can get guys like Randy Gregory (in free agency) or other great players. We want to make this a destination location.”
Paton knew he wanted Wilson’s location to be Denver long-term because of what it cost to acquire him. Wilson has been steadfast in saying he wanted Denver to be his second and final stop because there is no consistent precedent of quarterbacks winning a championship while playing for a third franchise.
Since 2000, only two Super Bowl-winning starting quarterbacks were on their third or fourth team — Tampa Bay’s Brad Johnson (third team) in 2002 and Philadelphia’s Nick Foles (a fill-in starter on his fourth club) in 2017.
The Broncos hope Wilson is just as successful as the last two Super Bowl champs — Tom Brady was in his first season with Tampa Bay in 2020 and Matthew Stafford for the Rams last year.
If Wilson resuscitates this franchise, the trade and contract will be worth it. The $49 million average, second only to Green Bay’s Aaron Rodgers ($50.27 million) is the cost of doing quarterback business. That the deal isn’t fully guaranteed showed the Cleveland/Deshaun Watson ($230 million guaranteed) is a one-off, an act of tomfoolery and desperation by the Browns.
This kind of money is always a gamble since Wilson will turn 40 in November 2028, the final season of the contract. But age isn’t the overwhelming road block it used to be. Quarterbacks are better conditioned physically to play into their late 30s and the rules on hitting them are career-extending.
Rodgers is 39 and has won the last two NFL MVP awards. Stafford is 34 and has a $160 million contract. Matt Ryan was acquired by Indianapolis entering his age-37 season. And, of course, there is Brady, who could re-enter free agency next March for his, gulp, age-46 season.
Translation: Don’t completely scoff at Wilson’s mantra of wanting to play 10-12 more years. He doesn’t need much sleep, has a first-one-in-last-one-out-of-the-facility mentality, leads a locker room that has fully bought into his presence and ability, and, as he told The Denver Post in mid-June, “I don’t drink coffee because I don’t get tired.”
In that respect, Hackett and Wilson could be a fine match, two tireless workers striving toward the same goal. The offseason business — new owner, new president, new coach, new quarterback — is over and just in time.
“Now it’s time to get this season going,” Hackett said. “There’s been a lot of action, but now we get the real action, which is football season and I can’t wait.”
Top-paid quarterbacks
A look at the top five highest-paid NFL quarterbacks in terms of average salary:
