Massive quarterback contracts can truly make or break an NFL franchise. Get it right and it oftentimes ends up looking like a bargain within the ever-growing salary cap. However, if you get it wrong, it could hamstring your franchise for years to come.
While it is too early to say that the latter is the reality for the Denver Broncos and Russell Wilson, it has not been sunshine and rainbows so far. It is surely making decision-makers in Denver a bit uneasy these days. The Broncos were not good in 2022, and they are not off to a good start in 2023 either. While it is not all on the QB, they will always share some of the blame.
If Denver was ever looking to get out of the Wilson deal, how would they go about it? Let’s take a closer look at the situation.
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Russell Wilson’s Contract
In September of 2022, just six months after completing a blockbuster trade that brought Wilson to Denver, the team signed the QB to a massive five-year, $245 million extension. With the two years already on the books, it pushed the total commitment to seven years and $296 million for the team.
The deal is good for an annual year salary of $48.5 million and includes $50 million in signing bonuses, as well as $161 million in guaranteed money. The commitment for Wilson is large, but the return on investment has not been what anybody hoped it would be.
Now, the question of if they made the right decision looms large.
How Can the Broncos Get Out of Wilson’s Contract?
When you sign your QB to a five-year extension with seven total years of control, it is safe to assume you are in it for the long haul. Such is the case for the Broncos, and the fact that things have not gone swimmingly since Wilson’s arrival has made things much harder to swallow.
Due to the guaranteed money and the dead cap situation, Denver is handcuffed not only for 2023 but at least through 2024 as well. It is possible the Broncos have Wilson for one more season in 2024 before cutting him either as a pre-June 1 cut to absorb all the charges in 2025 or spread the charges out as a post-June 1 cut.
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Both are less than ideal due to the financial ramifications associated with each so early in the contract. Denver would gain nothing in cap savings with the move in 2024 because the dead money with a post-June 1 cut ($35.4 million) would equal what his 2024 salary would be. In 2025, Denver would still have $49.6 million in dead money, which would only be a net savings of $5.8 million.
The best-case scenario is for Wilson and the Broncos to find success on the field. If they don’t win, things could get messy for the franchise. Moving on from Wilson is a decision that not only starts a rebuild but helps decide the timeline of it, too.