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Denver Broncos take absolutely massive NFL salary cap hit by releasing Russell Wilson

Credit: Isaiah J. Downing-USA TODAY Sports

The first day of official NFL free agency didn’t necessarily include the Denver Broncos adding much to their talent-stricken roster.

However, head coach Sean Payton and Co. did take care of business by making the release of Super Bowl quarterback Russell Wilson official.

The move was made with a post-June 1 designation, meaning that Denver is going to spread out the dead cap hit over the next two years.

What’s absolutely atonishing here is that the Broncos are taking a dead cap hit of $53 million in 2024 alone. That’s the largest dead cap hit in NFL history. They will also take $35 million on the chin for the 2025 season, adding up to a whopping $88 million in dead cap money.

It’s rather clear that Payton and the Broncos’ brass were willing to take such drastic measures in order to rid themselves of Wilson after two seasons.

Related: Will the Denver Broncos trade Courtland Sutton?

Russell Wilson
Credit: Ron Chenoy-USA TODAY Sports

Wilson, 35, will end up officially signing with the Pittsburgh Steelers at some point soon. His release from the Broncos had to be made official. Said deal is going to be worth a mere $1.21 million over one year.

  • Russell Wilson stats (2023): 66.4% completion, 3,070 yards, 26 TD, 8 INT

Despite the Broncos’ overall lack of success during what was another disappointing 8-9 season, Wilson himself put up a solid performance. That’s what makes all of this so ridiculous on the surface.

As for the Broncos, they don’t have any solutions under center with NFL free agency officially opening on Wednesday. Jarrett Stidham would likely be QB1 if the season were to start today.

Look Denver to add a veteran to the mix and eye a quarterback in the first round of the 2024 NFL Draft.

Related: Top NFL free agents of 2024

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