The Denver Broncos officially made the decision to release quarterback Russell Wilson on Monday, creating the largest dead cap hit in the history of the NFL.
The long-awaited announcement came Monday afternoon with a statement from head coach Sean Payton and general manager George Paton.
“We spoke with Russell Wilson today to inform him of his release after the start of te 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.”
Denver Broncos statement on Russell Wilson release
This move creates an absolutely huge $85 million dead cap hit for the Broncos heading into the new league year. It is an NFL record by a wide margin.
It is no surprise that Wilson was released by the Broncos after just two seasons with the team. He was benched late last season as the team looked to avoid paying out his injury guarantees moving forward.
In two seasons with the Broncos, Wilson completed 63% of his passes with 42 touchdowns and 19 interceptions in 30 starts. Unfortunately, Denver also posted a 11-19 record in those 30 starts
Related: Russell Wilson landing spots in NFL free agency
Russell Wilson releases statement after being released
The absolute professional that he is, Wilson released a statement after word of the Broncos letting him go became public record. Here it is.
Wilson, 35, now heads into free agency as the most-accomplished quarterback on the market. He has earned nine Pro Bowl trips and a Super Bowl title since the Seattle Seahawks made him a third-round pick in the 2012 NFL Draft.
There promises to be a market for him as a bridge starter.