Denver Broncos coach Sean Payton claims the team has not ruled out the possibility of bringing back quarterback Russell Wilson in 2024, but it’s hard to imagine the two sides working out their differences this offseason.
Wilson expects to be cut in March before his 2025 salary becomes guaranteed. The quarterback is also listening to offers for his Denver area home, a sure sign that Wilson is preparing to play elsewhere in 2024.
So if the Broncos do release Wilson as expected, what will be the salary cap ramifications this spring?
Michael Ginnitti of Spotrac.com recently published a breakdown of Wilson’s contract and the fallout of the (expected) looming breakup.
Wilson’s $39 million salary for 2024 is already guaranteed, so Denver can’t get out of that. The QB will have an additional $22 million option for 2024 that’s due in March 17, the same date that his $37 million salary for the 2025 season is set to become full guaranteed.
As you’ve likely noticed, the big date to note in March 17. The Broncos will make a decision before that deadline and a release will likely become official on or around March 16 (leaving time for the possibility of a trade).
If the team designates Wilson’s (expected) cut as a post-June 1 release without exercising his option bonus, Denver would have “dead money” cap hits of $53 million in 2024 and $32 million in 2025, according to Ginnitti.
If the Broncos exercise the option bonus and then designate Wilson as a post-June 1 release, the dead money cap hits would be $35.4 million (2024) and $49.6 million (2025). Either option leaves the team with $85 million in dead money spread over two years, it’s just a matter of how Denver wants to break it up.
Wilson will have the largest dead money cap hit in NFL history if/when he is released, an unfortunate way for his time with the Broncos to end.
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