Tough times for the Broncos as QB Wilson sets to sign the NFL minimum…
In his next NFL stop, Russell Wilson might be open to accepting a significant discount.
After being cut by the NFL, Wilson might be prepared to accept the veteran’s minimum salary for the 2024 campaign, according to ESPN’s Jeremy Fowler.
“Although they owe Russell Wilson $39 million in guaranteed money, everyone I’ve talked to throughout the league expects the Denver Broncos to take the band-aid off and release him at some point around the new league year in the next few weeks,” Fowler stated on SportsCenter on Sunday. “However, they can start over, and he can sign with another company. The prevailing opinion is that since he is guaranteed all that money, he will sign for a far lower contract—possibly even the league minimum. He will, therefore, have choices. Speaking with teams and scouts gives me the impression that he is still a starter in the NFL and will find employment eventually.”
Wilson has a $39 million season-long debt to the Broncos. If Wilson is released, Denver would be facing an NFL record dead cap penalty of $85 million; nevertheless, if the franchise wishes to move on, it has no other option. If Wilson is still on the roster on March 17 of this year, his $37 million pay for 2025 is guaranteed.
Wilson’s contract has an offset language, which means that the more money he earns from another team the following season, the less money Denver has to give up. This might be helpful for the Broncos. Theoretically, Wilson could arrange his contract with his next team in a way that maximizes his harm to the Broncos. He may accept a contract that would essentially allow him to double dip by paying him the minimum in 2024 and providing him with a sizable guaranteed roster bonus for 2025 with his new contract.
The going rate for a starter of Wilson’s caliber right now is far over $20 million, even if we accept that he is aging and not playing at a Hall of Fame level.
Jimmy Garoppolo signed a three-year, $72.8 million contract last summer, despite having accomplished a small portion of what Wilson has in his career. Wilson should just have such minimal expectations when it comes to the free market.
However, Wilson might attract more interest from teams by demonstrating his willingness to accept less for the time being. By going that route, Wilson might have the chance to sign with the best team that will offer him the starting job and then reenter the market in a year, when his worth will likely have increased.
With roughly a third of their cap sheet locked up in Wilson’s dead money, the Broncos will need to find a means to replace him.
