Russell Wilson is soon to be a former Denver Bronco.
After a tumultuous 2023 season under new head coach Sean Payton, the Broncos told the veteran quarterback that they would be parting ways with him after the start of the new league season on March 13.
Monday’s announcement brought the brief Wilson era in the Mile High City to an end despite so much fanfare when the Broncos first made the massive trade back in 2022 and then signed him to a five-year contract extension worth more than $242 million.
The decision to cut Wilson now will cost the Broncos $85 million in dead cap money.
The team’s official announcement came just minutes after NFL insider Ian Rapoport had broken the news shortly after 4 p.m. Monday.
“We spoke with Russell Wilson today to inform him of his release after the start of the league year,” the Broncos said in a statement “On behalf of the Broncos, we thank Russell for his contributions and dedication to our team while wishing him the best as he continues his career.
“As we move forward, we are focused on building the strongest team possible for the 2024 season and beyond. We are excited to improve this offseason and will have the flexibility to get better through the draft and free agency.”
The Broncos coughed up four draft picks — including a first-rounder in 2022 and 2023 — and three players to get Wilson.
But Wilson’s time in Denver never went the way that either side anticipated as his completion percentage was the worst of his career at 60.5 in 2022 and he threw a career-low 16 touchdowns.
The quarterback didn’t do enough either in 2023 to win over Payton and it quickly seemed like the marriage between the two sides was headed for a divorce, with Wilson recently confirming an October report that the Broncos had threatened to bench him if he didn’t waive the injury guarantee on his salary.
Wilson was eventually benched for the final two games of the season — a decision that Payton claimed was a football decision — furthering the speculation that things were coming to an end.
“Over the last two years, you have welcomed my family and me with open arms and have embraced us as members of the Denver community,” Wilson said in a statement thanking Broncos fans on Monday.
“The city will always hold a special place in my heart. Our family grew here, we made countless memories and friendships, and formed relationships that will last a lifetime.”
Broncos general manager George Paton had hinted during the NFL combine that releasing Wilson may be the team’s only option after the team hadn’t fielded any calls from interested teams looking to try and pick up the nine-time Pro Bowler.
“I haven’t heard anything from any teams,” Paton told reporters last week when asked about a trade market, “so we’ll see.”
The Broncos could use the 12th pick in the draft to find the team’s next quarterback or jump into the Kirk Cousins sweepstakes.
Wilson is sure to draw some interest on the open market from clubs looking to upgrade at the QB position.