The Denver Broncos released Russell Wilson during the 2024 offseason, right before the second anniversary of the transaction that brought him from the Seattle Seahawks.
The move cost the Broncos $85 million in dead cap space. However, Broncos head coach Sean Payton stated that the financial situation did not worsen matters. And they replaced Wilson at quarterback with rookie first-round pick Bo Nix.
Payton believes the chemistry is greater with Nix than with Wilson.
However, Wilson took advantage of his release by signing with the Pittsburgh Steelers, who are 9-3 and lead the AFC North. Wilson is setting himself to benefit even more.
“The one-year, $1.2 million deal Wilson signed with the Steelers (while still collecting $37.8 million from Denver on his previous deal) ranks as the biggest bargain in the league this season,” Mike Sando, of The Athletic, wrote on December 5.
“Wilson’s throwing productivity in six starts is projected to be 4,706 yards, 28 touchdowns, and nine interceptions across a 17-game schedule. The last five games feature some difficult defences, but with the Steelers all but certain of a postseason spot, Wilson has a fantastic opportunity to make Pittsburgh his long-term home.”
As Wilson recovered from a calf injury, the Steelers went 4-2 with Justin Fields at quarterback to begin the season.
They are 5-1 with Wilson at the helm.
Notably, the Broncos and Steelers are within one game of facing off on Super Wild Card Weekend this season. Pittsburgh is the AFC’s third seed entering Week 14’s Sunday slate.
Denver is ranked seventh, therefore they would not meet until the second round, if they began the playoffs on December 6.
However, a Broncos victory and a Baltimore Ravens loss in Week 15 would give Denver the No. 6 seed, setting up yet another revenge game. If the Broncos remain at No. 7, but the Steelers replace the Buffalo Bills as the No. 2 seed, the two teams would be pitted against each other.
Sean Payton and the Denver Broncos incurred an NFL record dead cap hit to end The Russell Wilson era
This is turning out to be a win-win for both companies. They appear to have found solutions to their years-long QB hunts.
Nonetheless, the cost to the Broncos was historic.
“After Sean Payton was appointed to coach the Broncos last year, it became clear that he and Russell Wilson were polar opposites. On December 4, former sports agent and CBS Sports’ Joel Corry reported that Wilson’s marriage of convenience ended in March when the Broncos discharged him with a post-June 1 designation.
“The Broncos are dealing with $85 million in dead money as a result of Wilson’s departure. The $53 million for 2024, which includes Wilson’s fully guaranteed $39 million 2024 base salary from the five-year, $245 million contract deal he signed in August 2022, sets an NFL record for dead money connected to an individual player in a single league year. The remaining $32 million is a 2025 salary cap charge for the Broncos due to the post-June 1 designation.
Their salary cap predicament resulted in a quiet free agent period during the 2024 summer. According to Over The Cap, the Broncos have $2.7 million in space as of December 6. They are expected to have $63.4 million by 2025, though.
Russell Wilson Has Made Key Improvements With the Steelers
Wilson did not perform terribly in his final season with the Broncos, the only one under Payton. He completed 66.4% of his throws in 15 games, totaling 3,070 yards, 26 touchdowns, and 8 interceptions. Wilson’s stats increased dramatically from the 2022 season, his first year with the Broncos.
He rebounded from a 1-5 start to win five straight games.
A 1-3 streak from Weeks 13 to 16 eventually did him in. However, the Broncos went 7-8 with Wilson as QB1, and Payton benched him in favour of current QB2 Jarrett Stidham.
Notably, Wilson has completed 65.8% of his throws this season, totaling 1,626 yards, 10 touchdowns, and three interceptions. His touchdown rate is lower than in 2023, while his sack rate is less than 1% higher, according to Pro Football Reference.
However, his attempts, yards, and throw success percentage have all increased.
Wilson is on course to set a new career high at 8.7 yards per attempt, leading the league through Thursday Night Football in Week 14.
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