Broncos to cut Russell Wilson, take on $85M dead money hit،
ENGLEWOOD, Colo. – The Denver Broncos have informed nine-time Pro Bowl quarterback Russell Wilson of their intention to release him, a move that ends a tumultuous two-season run with the team.
“We spoke with Russell Wilson [Monday] to inform him of his release after the start of the championship year [March 13, 4 p.m. ET]”, said coach Sean Payton and general manager George Paton in a joint statement. “On behalf of the Broncos, we thank Russell for his contributions and dedication to our team and our community while wishing him the best in the pursuit of her career. As we move forward, we are focused on building the strongest team possible for the 2024 season and beyond. We are excited to improve this offseason and will have the flexibility to improve through the draft and free agency.
Wilson released a statement thanking the city of Denver, several teammates, team cafeteria workers and vice president of player development Ray Jackson. He didn't mention Payton, Paton or team ownership.
“Over the past three years, you have welcomed my family and me with open arms and welcomed us as members of the Denver community. This city will always hold a special place in my heart. Our family has Growing up here, we have made countless memories and friendships, and formed relationships that will last a lifetime,” he wrote in the release.
“To my teammates, thank you for going to battle together and 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'm beyond grateful for everything about you and being able to come out as a teammate was an honor.”
He ended his statement by writing, “Tough times don't last, but tough people do. God got me. I'm excited for what's next.”
Wilson's release will end a disappointing chapter for both parties. The Broncos went 11-19 during Wilson's starts over two seasons and failed to make the playoffs. Payton benched him with two games remaining in 2023, a move that effectively marked the end of the quarterback's career in Denver.
The Broncos signed Wilson to a five-year, $242.6 million contract after his arrival and will receive $85 million in dead money over the next two seasons due to this release.
In the coming weeks, Denver will have to decide whether to take most of that dead money during the 2024 or 2025 season.
The Broncos went all-in to acquire Wilson two years ago from the Seattle Seahawks, sending five draft picks, including two first-round and two second-round selections, along with three players.
“It's just unique that you can trade for a quarterback — a franchise quarterback — in his prime, and we felt like we had to take that chance,” Paton said at the time.
Ultimately, the Broncos couldn't get enough of these franchise quarterback moments. Wilson has played for three head coaches in Denver: interim Nathaniel Hackett and Jerry Rosburg in 2022 and Payton in 2023.
Wilson, 35, is entering the free agent market where teams such as the Minnesota Vikings and Pittsburgh Steelers could take a chance on the veteran.
“For me it's about winning. In the next two years I want to win two [Super Bowls]I want to feel the freshness of that trophy again,” Wilson recently said on the “I Am Athlete” podcast. “I love the city and everything else, but you also want to be [in] a place that wants you too. What I want is to win, that’s all that matters to me.”
Asked during the scouting huddle about finding a long-term answer at quarterback, Payton said, “We'd do better.”
After an offseason and training camp last year in which Payton promised to build an offense around Wilson that played to his strengths, Denver opened the season 1-5.
The turning point in football's very public divorce was likely the conversation involving Wilson, his representatives and the Broncos during the team's Week 9 bye in 2023. The Broncos maintain they wanted to find a “creative way” to whether Wilson gives up or adjusts. , a $37 million injury guarantee in his contract.
Wilson said he was told at the time that if he and his representatives didn't play the financial game, he would be removed as a starter.
“They definitely told me I was going to be on the bench and all that,” Wilson said near the end of the season.
The Broncos, including Paton and owner/CEO Greg Penner, said discussions about possible financial or salary relief were “good faith” and common in the league between a team and a player with such a lucrative long-term deal .
“It didn’t come up again, fast forward to Week 17, Sean makes a change at quarterback,” Paton said. “This was a football decision made by Sean, which he believed was in the best interest of the team. This is completely independent of the conversations I had with the agent.”
