The Denver Broncos‘ Russell Wilson appears to be coming to an end. Head coach Sean Payton informed Denver’s players that backup quarterback Jarrett Stidham will start against the Los Angeles Chargers in Week 17.
Why did the Broncos decide to bench Wilson with two games remaining in the regular season, and how will the move affect the veteran QB’s contract? Let’s examine the fallout.
Why the Broncos Benched Russell Wilson
ESPN’s Adam Schefter reported the news Wednesday morning. Wilson has undoubtedly played better under Payton in 2023 than he did under former Broncos head coach and offensive play-caller Nathaniel Hackett in 2022. The 35-year-old has improved his completion, touchdown, interception, and sack rates, while Denver is hardly the offensive disaster it was last season.
But Wilson still ranks just 21st in QBR through 15 weeks, so his year-over-year development has been capped. Meanwhile, the Broncos’ surprising Week 16 loss to the New England Patriots dropped Denver to 7-8, turning a potential playoff run into an unrealistic dream.
Wilson’s individual production and the Broncos’ performance as a team might’ve been enough for Payton to give Stidham a chance as the team’s starting quarterback. Add in the possible financial implications of the massive contract extension Wilson signed with Denver in 2022, and the move to Stidham makes even more sense.
Wilson’s five-year, $245 million deal included $125 million fully guaranteed at signing. His base salaries in 2022, 2023, and 2024 were guaranteed, but his $37 million salary in 2025 won’t become guaranteed until the fifth day of the 2024 league year.
If Wilson were injured over the season’s final two games and could not pass a physical next March, the Broncos would be on the hook for that $37 million. Placing him on the bench to close the campaign eliminates that possibility.
Denver can release Wilson next offseason, but they can’t simply cut without strings attached. Doing so would leave the Broncos with $85 million in dead money and a net loss of nearly $50 million in 2024 cap space.
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Instead, Denver will likely use a post-June 1 designation when it releases Wilson. While the nine-time Pro Bowler would immediately depart the Broncos’ roster, the club could spread his dead money over the next two seasons: $35.4 million in 2024 and $49.6 million in 2025.
Denver gave up a haul to acquire Wilson from the Seattle Seahawks in 2022, sacrificing first, second, and fifth-round picks in 2022, first and second-round choices in 2023, QB Drew Lock, TE Noah Fant, and DT Shelby Harris to land Wilson and a 2022 fourth-rounder.
If Wilson is cut next year, he’ll become a free agent for the first time in his career. He’d join a list of free agent quarterbacks scheduled to include Kirk Cousins, Baker Mayfield, Jacoby Brissett, and Gardner Minshew.
Wilson is hardly the only veteran signal-caller who’s been benched for financial reasons. The Las Vegas Raiders aren’t playing Jimmy Garoppolo to close the season in the hope of avoiding a costly injury, while the Raiders and Indianapolis Colts benched Derek Carr and Matt Ryan, respectively, in 2022 for fiscal purposes.
Ironically, Stidham replaced Carr in Vegas’ starting lineup at the end of last season. He completed 64.29% of his passes for 584 yards, four touchdowns, and three interceptions before signing a two-year, $10 million pact with the Broncos this offseason.
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