The Denver Broncos’ decision to release Super Bowl-winning quarterback Russell Wilson did not come as too much of a surprise. The writing had been on the wall since head coach Sean Payton opted to bench Wilson late in the 2023 season.
However, it does create a major hole under center in Denver. The release also created a huge dead cap hit for the Broncos.
With NFL free agency set to start in roughly a week, the Broncos now find themselves $19.22 million over the 2024 salary cap. General manager George Paton and Co. have a ton of work to do over the next few days.
Once free agency starts, attention will turn to the all-important quarterback position. Given the Broncos’ less-than-stellar cap situation, it’s highly unlikely that a high-priced quarterback is headed to Mile High City.
Instead, the Broncos will likely scour the trade market ahead of potentially adding a future starter in the upcoming 2024 NFL Draft. Below, we look at four Broncos quarterback options to replace Wilson.
Related: Updated NFL trade rumors
Denver Broncos trade for Mac Jones
This could very well be the best of both worlds for Denver. That is to say, adding a still-young quarterback on the cheap while selecting another in the first round of the 2024 NFL Draft.
Jones, 25, would cost a mere $2.88 million against the 2024 NFL salary cap for an acquiring team. He could also potentially be had for a mid-to-late round pick. Sure, Jones fell out of favor with the New England Patriots. But he does have a track record of some success. That included leading New England to a playoff appearance as a rookie back in 2021.
Related: 5 ideal Kirk Cousins landing spots, including Denver Broncos
Broncos draft J.J. McCarthy
It was reported recently that Payton is incrediby high on McCarthy. Could he be so high on the former Michigan star that Denver utilizes the 12th pick on the quarterback? Given what we’re hearing after the NFL Scouting Combine, it’s a real possibility.
The idea here would be for McCarthy to learn behind a veteran free-agent signing such as Jacoby Brissett or Gardner Minshew for a year. It would set Denver up well at quarterback, both over the short-term and the long-term.
Related: Top landing spots for former Denver Broncos QB Russell Wilson
Denver adds Justin Fields in trade with Chicago Bears
Another option would be to go upside in a trade with Chicago. We know that the Bears are going to move Justin Fields ahead of the 2024 NFL Draft. In fact, a deal could come down at any moment with general manager Ryan Poles and Co. targeting USC’s Caleb Williams at No. 1 in the annual event.
Fields, 25, would offer much more upside than Jones in a trade. He was pretty good this past season, tallying 20 total touchdowns compared to nine interceptions. Fields would also come cheap from a financial perspective ($1.62 million cap hit in 2024). A move of this ilk wouldn’t prevent Denver from also using an earlier-round pick on a rookie quarterback.
Related: Updated 2024 NFL mock draft
Denver Broncos trade up for a quarterback
After exhausting a ton of draft capital on Wilson ahead of the 2022 season, it might be hard for Denver to pull off a major move up the draft board. But this is a position that has been in flux with the Broncos since the days of Peyton Manning.
The Washington Commanders (No. 2) and New England Patriots (No. 3) might be willing to trade down in the 2024 NFL Draft. In this scenario, Denver targets either Drake Maye from North Carolina or reigning Heisman winner Jayden Daniels. While unlikely, this is a real scenario that’s in play.