After months of speculation, the Denver Broncos officially announced they are parting ways with quarterback Russell Wilson, setting a dubious NFL record in doing so.
The Broncos traded for Russell Wilson during the 2022 off-season, sending multiple first- and second-round picks to the Seattle Seahawks in exchange.
Soon after, Denver gave Wilson an astronomical $242.5 million deal, intending to build around the Super Bowl-winning signal-caller.
However, Wilson regressed mightily with the Broncos in 2022 and served as a ‘lame duck’ quarterback in 2023.
Following an up-and-down 2023 campaign, Wilson will be available for all 31 other teams to sign during NFL free agency.
Russell Wilson shatters his own dubious NFL record
After releasing Wilson, the Broncos will incur a dead cap hit of $85 million. In the simplest terms, the dead cap is the salary cap charge for a player no longer on the roster.
At $85 million, that takes up one-third of the total cap space NFL teams are allowed in a season, although per NFL rules, the Broncos could stretch this dead cap over two years.
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Either way, Wilson is no stranger to dead cap charges, as NFL analyst Warren Sharp pointed out on X following the trade.
top single-year dead cap hits in NFL history$49,600,000- Russell Wilson 👀$40,525,000 – Matt Ryan$40,313,570 – Aaron Rodgers$35,400,000 – Russell Wilson 👀$35,104,000 – Tom Brady$33,820,611 – Carson Wentz$26,000,000 – Russell Wilson 👀Russell Wilson is 3 of top 7 😂😂
— Warren Sharp (@SharpFootball) March 4, 2024
The $85 million hit sits nearly $36 million ahead of the next closest charge, which ironically enough is held by Wilson after getting traded by the Seahawks.
With the Broncos releasing Wilson in the coming days, he will have four of the top eight dead cap charges in NFL history.
Thanks to the failed investment, Denver is severely lacking in salary cap space this off-season and potentially next off-season if they spread the dead cap hit out.
As for Wilson, he has made it clear that his Super Bowl aspirations live on. And he’s reportedly willing to take a league-minimum deal to ensure he lands a starting gig next off-season.
Russell Wilson may be willing to sign NFL minimum contract if Broncos cut him https://t.co/qPLC2JuyLL pic.twitter.com/OJfpupsSzE
— New York Post (@nypost) February 25, 2024
That would leave the Broncos paying Wilson $85 million to not be on their roster, while his next team only shells out $~1 million if he takes the veteran minimum.