The Denver Broncos have officially made a decision on quarterback Russell Wilson, as the franchise informed the veteran signal-caller that he will be released after the league year begins on March 13. Wilson signed a $245 million multi-year extension that was supposed to carry him through 2028 before even playing a snap for Denver, a decision which came back to bite the Broncos.
The Broncos will eat $39 million, according to NFL Media, but they avoid the $37 million guaranteed that would trigger for 2025. Per Front Office Sports, the Broncos will take on an NFL-record $85 million in dead cap. It’s likely this move will be designated as a post-June 1 transaction. According to Pro Football Talk, Denver will have a cap charge of $35.4 million in 2024, and another cap charge of $53.6 million for 2025.
The Broncos announced their decision with a joint statement from general manager George Paton and head coach Sean Payton.
“We spoke with Russell Wilson today to inform him of his release after the start of the league year. On behalf of the Broncos, we thank Russell for his contributions and dedication to our team and community while wishing him the best as he continues his career.
“As we move forward, we are focused on building the strongest team possible for the 2024 season and beyond. We are excited to improve this offseason and will have the flexibility to get better through the draft and free agency.”
Wilson also posted a lengthy statement on social media thanking the city of Denver, plus his now-former teammates and employees of the Broncos. Wilson also said that he’s excited for what’s next.
The Wilson era in Denver was certainly a forgettable one, as the former Super-Bowl winning quarterback went 11-19 as the starter. In 2022, the Broncos sent the Seattle Seahawks a 2022 first-round pick, a 2022 second-round pick, a 2022 fifth-round pick, a 2023 first-round pick, a 2023 second-round pick,…
Source link : https://www.cbssports.com/nfl/news/russell-wilson-landing-spots-broncos-give-veteran-qb-permission-to-meet-with-other-teams-ahead-of-release/
Author : Jordan Dajani
Publish date : 2024-03-06 17:04:55
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