By Arnie Stapleton AP Pro Football Writer
The Denver Broncos informed Russell Wilson on Monday that they plan to release him next week, just a year and a half after signing the Super Bowl-winning quarterback to a lucrative five-year, $242 million contract extension.
Despite the release, the Broncos still owe Wilson his $39 million salary for 2024, minus any compensation he may receive from another team, which could be the veteran’s minimum of $1.21 million.
One potential landing spot for Wilson is Pittsburgh, as the Steelers are scheduled to play in Denver next season.
As a result of the release, the Broncos will incur a record $89 million in dead cap charges over the next two seasons.
Wilson had a strong season under new head coach Sean Payton last year, recording 26 touchdown passes and eight interceptions in 15 games.
However, Payton benched Wilson in the final two games in favor of Jarrett Stidham. Stidham posted a 1-1 record, and the Broncos finished the season 8-9, marking their seventh consecutive losing season and eighth consecutive year missing the playoffs.
Payton hinted at a potential split during the NFL scouting combine last week, emphasizing the importance of finding the right quarterback to lead the Broncos back to competitiveness.
Following Payton’s comments, Wilson resumed sharing workout videos on social media and removed all references to the Broncos from his profile.
Wilson was acquired by the Broncos in 2022 from the Seattle Seahawks, where he had previously won a Super Bowl. The trade involved multiple draft picks and players.
Despite signing a hefty contract extension, Wilson struggled in his first season in Denver under coach Nathaniel Hackett, who was later fired.
After adjusting his social media presence and physical conditioning, Wilson improved his performance before eventually being benched by Payton.
Wilson’s future with the Broncos became uncertain, leading to his impending release before the start of the league’s new year.