Broncos’ Cap Situation Explained If Russell Wilson Is Cut from Contract in 2024

Doric SamDecember 27, 2023

Andy Cross/MediaNews Group/The Denver Post via Getty Images

The Denver Broncos made the shocking move to bench veteran quarterback Russell Wilson for Sunday’s game against the Los Angeles Chargers, and now his future with the team is in question.

Amid speculation that the Broncos could choose to part ways with Wilson this offseason, NFL Network’s James Palmer explained that the team would be facing a massive hit of $85 million in dead money split over the next two years:

James Palmer @JamesPalmerTVIf this offseason the #Broncos part ways with Russell Wilson a post June 1 release would divide the $85 million in dead money over two seasons:
– $35.4 million in 2024
– $49.6 million in 2025

Per ESPN’s Jeff Legwold, Broncos head coach Sean Payton informed the team on Wednesday that Jarrett Stidham will be starting in Wilson’s place on Sunday.

The quarterback change came amid significant financial implications with Wilson’s upcoming deal. The nine-time Pro Bowler would make an additional $37 million in guaranteed money if he can’t pass a physical in March, so an injury in the final two games of the season would be catastrophic to Denver’s financial flexibility this offseason.

Upon being traded to the Broncos from the Seattle Seahawks prior to the 2022 season, Wilson signed a five-year, $242.6 million contract extension that will officially go into effect next year. He’s set to make a guaranteed salary of $39 million in the 2024 season.

The deal has yet to pay off for Denver, as the team has failed to live up to expectations since acquiring Wilson. The 35-year-old has not looked like the player he once was, and the team has suffered during his regression.

The Broncos rank 16th in the NFL in scoring at 21.8 points per game and 25th in passing with 187.5 yards per game. Wilson has thrown 26 touchdowns this season, which ranks sixth in the league, but he has reached the 300-yard mark just once this year.

At 7-8, the Broncos still have a slight chance of competing for a playoff spot in the AFC, but it remains to be seen if Stidham will be more effective than Wilson in leading the offense.