On March 15, 2024, Russell Wilson signed with the Pittsburgh Steelers. However, the Steelers aren’t the only team paying him this season.
Prior to landing in Pittsburgh, Wilson started 30 games over two difficult seasons in Denver. He was eventually released on March 4 in a move that left the Broncos with an NFL-record $85 million dead-cap hit.
Wilson posted an 11-19 record as the starter in Denver, throwing for 6,594 yards and 42 touchdowns against 19 interceptions. The eight-time Pro Bowler also rushed for 618 yards and six touchdowns during his two seasons leading the Broncos.
However, late in the 2023 season, head coach Sean Payton benched Wilson in favor of backup Jarrett Stidham in an effort to “spark” the Broncos’ offense.
Let’s examine how the Pittsburgh Steelers acquired quarterback Russell Wilson in the offseason, following a tumultuous two seasons in the Mile High City.
Examining Russell Wilson’s Contract
Wilson signed a one-year, $1.21 million contract with the Steelers. Why would Wilson sign such a bargain deal at a time when quarterback salaries are skyrocketing?
Well, because the Broncos are paying Wilson considerably more than the Steelers despite releasing him — a whopping $37.79 million to be exact.
In 2022, shortly after acquiring Wilson in a trade with the Seattle Seahawks, Denver gave Wilson a five-year, $242.6 million extension.
This contract contained offset language, meaning his salary with a new team would be deducted from his remaining Broncos salary. As a result, the veteran quarterback was incentivized to sign the cheapest deal possible this past offseason.
This is why Wilson accepted a bargain contract that makes him one of the NFL’s lowest-paid quarterbacks in terms of annual salary (not counting the money he’s earning from Denver). His deal also contains a full no-trade clause.
Wilson’s salary with the Steelers ranks 64th among quarterbacks this season. In fact, he is the third-highest-paid quarterback on his team, as his salary is lower than Justin Fields’ ($4,717,988) and third-stringer Kyle Allen’s ($1,383,834).
For comparison, the Steelers are paying Wilson less than the salaries of Jacksonville Jaguars QB C.J. Beathard ($1,310,000), Baltimore Ravens QB Josh Johnson ($1,377,500), Minnesota Vikings QB Nick Mullens ($1,900,000), and San Francisco 49ers QB Brandon Allen ($2,020,000).
However, factoring in the money he’s being paid by both teams, Wilson is earning $39 million this year. Here’s a full breakdown:
- Broncos: $37.79 million
- Steelers: $1.21 million
- Total: $39 million
Neither the Steelers nor the Broncos owe Wilson any money beyond this season. He will be an unrestricted free agent this offseason.
However, the Broncos will still carry a $32 million dead cap charge in 2025 after eating a $53 million dead cap hit in 2024. When the dust settles, the Broncos will have absorbed $85 million in dead cap money, the largest amount in NFL history related to one player.
Justin Fields and Russell Wilson
The full story has yet to be written on Wilson’s first season in Pittsburgh. He’ll be under center for the Steelers when they take on the Baltimore Ravens on Saturday night in a wild-card playoff game.
Statistically, Wilson has been serviceable: 2,482 passing yards, with 16 touchdowns and five interceptions. The Steelers went 6-5 in his 11 starts. Wilson finished with a No. 17 ranking in PFN’s QB+ metric, earning a 75.7 score and C grade. He also notably ranked No. 29 over the last four weeks in particular, a stretch where Pittsburgh failed to win a game.
Justin Fields began the 2024 season as the starting quarterback after Wilson suffered a calf injury at training camp. Wilson endured a setback while warming up for the Steelers’ season opener — officially designated as “calf tightness” — and head coach Mike Tomlin quickly turned to Fields.
The one-time first-round pick (No. 11 overall in 2021) went 4-2 as the starter and produced a QB+ metric of 78.1, equating to a C+ grade, even though he technically fell below the minimum-pass-attempt requirement by putting up 161 passes before Wilson won his job back.
In recent days, there has been talk of Tomlin possibly using Fields in certain packages to spark his struggling offense in the postseason.
“I’m certainly open to utilizing Justin,” Tomlin said via Steelers.com. “He has an awesome skill set. We’ve done some of that in the past. We’ve done less of it in recent weeks.”