Once a High-Paid QB, Russell Wilson Loses $110 Million After the Broncos’ Decision to Cut Him

Russell Wilson was once a dependable starter and franchise quarterback for the Seattle Seahawks. However, his career has taken a slide in recent years. Enduring the role of a journeyman now, his longest post-Seattle stint came in Denver, after the Broncos traded for him in 2022 with hopes of reigniting their offense.

The Broncos made Wilson one of the NFL’s highest-paid quarterbacks, signing him to a five-year, $245 million extension that included $124 million in guaranteed money. As per Over the Cap, throughout two seasons in Denver, Wilson earned $85 million.

But inconsistent quarterback play and a personality clash with head coach Sean Payton ultimately cut short his five-year tenure there. Denver released Wilson after just two seasons — a move that reflected serious desperation since the team willingly absorbed $85 million in dead money and continued financial obligations just to move on.

Despite releasing him ahead of the 2024 season, the Broncos still paid him $37.79 million of the $39 million they owed him for that year. The Steelers covered the remaining $1.21 million and signed him to a veteran minimum deal.

While Denver is no longer obligated to pay Wilson beyond 2024, the financial fallout of his release remains significant. The Broncos will carry $85 million in dead cap across two seasons — $53 million in 2024 and the rest in 2025. That makes it one of the most expensive mistakes in NFL contract history.

Meanwhile, Wilson’s underwhelming play late in the 2024 season with Pittsburgh dampened his market value even further. Still, the New York Giants acted quickly to secure him on a one-year, $21 million deal that includes $11.029 million guaranteed.

Although that’s a step up from the veteran minimum, it’s still well below what typical starting quarterbacks earn. In total, since the start of his Broncos contract in 2022, Wilson is set to earn around $134.5 million — far short of the $245 million he would have made had he completed the full five-year deal in Denver.

That’s a loss of roughly $110 million in potential earnings. As his decline continues, so too does the likelihood of lucrative, long-term offers.

One-year, prove-it deals now define his career path — a stark contrast to the days when he was among the league’s highest-paid and most reliable QBs. But he still has a net worth of $165 million. So he won’t be going hungry anytime soon.