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Russell Wilson is reportedly going to be officially released by the Denver Broncos on March 13 when the 2024 NFL free agency period begins. This will essentially end a disastrous two-year run that didn't go at all the way it was intended to. Rather than becoming Super Bowl contenders with their new quarterback, the Broncos failed to appear in the playoffs in both of his two seasons.
While his time as the starting quarterback in Denver is over, Wilson is still linked to the franchise due to his massive five-year contract extension that they gave him just two seasons ago. In fact, cutting him will cost the Broncos $85 million in dead cap money across the next two seasons. This includes owing him $39 million for the upcoming 2024 season, even if he isn't on their roster.
Kimberley A. Martin recently explained how this number could actually be lowered for the Broncos and what it means for Russell Wilson's free agency status. She did so during a recent episode of "First Take."
Martin stated:
"The most attractive thing about Russell right now is the price tag. The fact that we know that the the Denver Broncos are on the hook for 39 million, so whatever. A team that signs him, if they pay him that minimum, they, the Broncos, would eat the rest of that.
"They would have to pay the 39 minus whatever he's getting, which makes him super attractive because he's not asking for Kirk Cousins money. You know that you could get a potential starter at a discount price. And it's really that price tag that makes teams think, 'Okay, we should consider him, honestly, at that price.' "
Russell Wilson is owed a minimum of $39 million for the 2024 NFL season, but it doesn't necessarily have to come from the Broncos. If he signs a contract with a new team during the free agency period, his 2024 salary with his new team will be subtracted from what the Broncos owe him this year, up to the $39 million that he is owed.
This means that the more money Wilson gets in free agency, the less money the Broncos will owe him this year. Denver is surely hoping that their former quarterback is able to save them as much money as possible, but as Martin explained, his already-guaranteed money is a good bargaining chip for Wilson in free agency.
Russell Wilson can do his new team a favor in free agency
Kimberley A. Martin explained that his contract situation could make Russell Wilson more attractive to teams in free agency. He already knows how much money he will be making this season, so it shouldn't matter to him which team is signing the check.
Wilson could potentially do his new team a favor by signing a veteran-minimum contract, forcing the Broncos to eat almost his entire $39 million in guaranteed money. He makes the same salary either way, so offering teams an established veteran at a bargain price could increase his developing list of potential landing spots.
