The Broncos are expected to make a decision on QB Russell Wilson soon.
Do they accept his $37 million salary in 2025, guaranteed in March 2024, or move on? There is no clear right or wrong answer at this point.
After the loss to the Patriots on Christmas Eve, Wilson was asked about his future.
“I’m worried about playing great football next week,” Wilson said. “I came here to win and win championships and find a way to make that happen. I obviously love being here with these guys, my teammates. I love it. We’re excited to continue to play ball and play hard for us.”
Continuing may have serious consequences for your cap. A trade before June 1 would result in a 2024 cap charge of $72 million. For releases specified after June 1st, 2024 cap charges will be limited to $35.4 million ($10 million pro rata signing bonus, $8.4 million pro rata option bonus, $17 million). full guaranteed salary). And in 2025, the Broncos will absorb an additional $53.6 million in dead money.
That seems like a lot (and it is), but allowing another $37 million to fully vest would result in a $35.4 million cap charge to keep him in 2024 and a $35.4 million cap charge to keep him in 2025. There will be a cap charge of $55.4 million to maintain the.
From a cap standpoint, it’s a little cheaper to cut the cord. The team will also save him $37 million in cash.
Coach Sean Payton believes in not doubling down to justify mistakes. If Payton decides that the contract he gave Wilson (at a time when he didn’t have to give one) was a mistake, Payton will want to fix it rather than ignore it.
There is a middle ground to consider. Wilson and the Broncos could come up with a revised contract that better reflects his current value. Of course, that depends on his current value elsewhere. What will he get on the open market? Knowing that means knowing whether the Broncos will accept whatever they offer on a reduced contract.
Wilson did poorly last year. This year, he played very well at times. The question is whether he’s playing well enough to justify his current contract.
No matter how things work out, the Broncos face a $37 million decision. The deadline is the 5th day of March of the league year. It will be here before they know it. Finding a way to the playoffs at 7-8 could go a long way in resolving this issue.