The Denver Broncos as their fanbase likely think they took a step in the right direction by deciding to part ways with veteran quarterback Russell Wilson this week after two disappointing seasons. While that may be true, his departure presents its own set of major problems for the Broncos.
As Mike Florio of Pro Football Talk explains, the move cost the Broncos an absolutely staggering amount of money against their salary cap, especially for a player who will no longer be on their roster as the team is now eating an $85 million dead cap hit.
“They’ll make the move a post-June 1 transaction. It could result, based on our understanding the payments made and still owed and per a source with knowledge of the situation, a cap charge of $35.4 million for 2024, and another cap charge of $49.6 million for 2025,” Florio wrote for Pro Football Talk.
The situation will be mitigated slightly by any new contract that Wilson signs, but with reports that Wilson is considering taking the league minimum salary with his next team, it won’t help the Broncos all that much.
“If/when Wilson signs elsewhere in 2024, the Broncos would get a dollar-for-dollar credit against his $39 million guaranteed compensation package in 2024. That credit would apply, we’re told, in 2025,” Florio wrote.
The Broncos clearly saw it as time to move on from Wilson, but it was a very expensive move.
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