According to CBS the Denver Bronc os have officially made a decision on quarterback Russell Wilson, as the franchise informed the veteran signal-caller that he will be released after the league year begins on March 13. Wilson signed a $245 million multi-year extension that was supposed to carry him through 2028 before even playing a snap for Denver, a decision which came back to bite the Broncos.
The Broncos will eat $39 million, according to NFL Media, but they avoid the $37 million guaranteed that would trigger for 2025. Per Front Office Sports, the Broncos will take on an NFL-record $85 million in dead cap. It’s likely this move will be designated as a post-June 1 transaction. According to Pro Football Talk, Denver will have a cap charge of $35.4 million in 2024, and another cap charge of $53.6 million for 2025.
The Broncos announced their decision with a joint statement from general manager George Paton and head coach Sean Payton.
“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.
