Russell Wilson hasn’t been a member of the Denver Broncos since 2023.
Wilson, a former Super Bowl winner and 10-time Pro Bowl selection, spent the 2024 campaign as a member of the Pittsburgh Steelers, then joined the New York Giants in the following offseason. Now delegated as a backup, Wilson is on the tail end of his NFL career.
For the Broncos, their decision to acquire Wilson in 2022, then sign him to a massive extension, is one that handicapped the franchise financially for years. Not only was Wilson not quite the same star quarterback for Denver, but he had a rough split from the team — but still, after making Sean Payton head coach and drafting Bo Nix, the Broncos have managed to overcome their poor decision on Wilson by making consecutive playoff appearances.
Wilson isn’t being paid by the Broncos anymore, but his contract has still remained a massive figure on the Broncos’ 2025 books. Here’s a look at how Wilson’s contract has impacted Denver.
MORE: What is Russell Wilson’s net worth?
Russell Wilson contract
Currently, Russell Wilson is wrapping up a one-year, $10.5 million deal he signed with the Giants in the 2025 offseason. He’s about to become a free agent once the 2026 league year officially arrives.
Wilson has signed one-year deals in Pittsburgh and New York since his Broncos exit in 2023, certainly not needing a high-dollar amount to land somewhere — he earned a significant amount of money from the huge extension he signed with Denver in September 2022, just before he began his first season with the team.
On Sept. 1, 2022, Wilson and the Broncos announced they had agreed to a five-year, $245 million extension, including $165 million guaranteed. At the time, Wilson had two years remaining on the deal he had originally signed with the Seattle Seahawks before a 2022 offseason trade to Denver.
“For me, this has been an amazing journey. I remember being up on the stage not too long ago and talking about the visions and the goals and the missions, and I think the best part of it all is when you’re around some amazing people, amazing teammates who are so dedicated to the craft, it makes this that much more enjoyable,” Wilson said after signing his extension, per NFL.com. “I believe this is a marriage, and you want to be here for a long time, and my goal is to be able to finish my career here.”
Breaking: Broncos and Russell Wilson just reached agreement on a five-year, $245 million contract extension that includes $165 million guaranteed, sources tell ESPN.
Deal now ties Wilson to Denver for seven total years and $296 million. Another massive QB deal in the books. pic.twitter.com/uk6yelOL3j
— Adam Schefter (@AdamSchefter) September 1, 2022
Considering Wilson was coming off 3,113 passing yards, 25 touchdowns and six interceptions in 2021 at the time, plus a career-high 40 touchdowns the season prior, it seemed like a logical decision for the Broncos to quickly extend him, thinking he’d been their long-term answer at quarterback.
Instead, the contract became rather disastrous for the Broncos. Wilson struggled in his first season in Denver, then was benched by the final weeks of his second season, and the Broncos would release him in March 2024 while still dealing with the financial repercussions of his contract.
MORE: Where does Russell Wilson rank among the best Seahawks ever?
Broncos payroll 2025
Technically, Wilson has already received all of his guaranteed money from the Broncos extension, receiving around $37.8 million in 2024 from Denver while on a cheap Steelers contract. While Wilson wasn’t being paid by the Broncos in 2025, his contract was still working against them.
Wilson’s contract carried a $32 million dead cap hit for Denver in 2025 after a $53 million dead cap hit in 2024. When the 2026 league year begins, Wilson’s deal with the Broncos will officially be off their books from a guaranteed and dead-cap perspective.
With $32 million of dead-cap money accounting against their 2025 salary cap, Denver was financially held back by Wilson’s contract in the 2025 season, but still went 14-3 and won a playoff game.
While Wilson isn’t receiving that $32 million now — it’s just an accounting total against the salary cap — that figure is still, by far, more than any active player on the Broncos’ 2025 cap sheet.
Mike McGlinchey has the highest cap hit of all Broncos active players, per Spotrac, at $23.78 million. In fact, Wilson’s $32 million dead-cap hit is more than Bo Nix’s ($5.08 million), Jarrett Stidham’s ($8 million) and Courtland Sutton’s ($13.98 million) combined.
The Broncos are paying Russell Wilson more money than their current skill positions COMBINED.
(Via @QBgami) pic.twitter.com/bP8TuJgXjD
— Underdog (@Underdog) January 20, 2026
Here’s a look at the 10 biggest Broncos active cap hits in 2025:
| Player | Position | Cap Hit |
| Mike McGlinchey | RT | $23,776,000 |
| Quinn Meinerz | G | $21,721,000 |
| Ben Powers | G | $18,425,000 |
| Patrick Surtain II | CB | $16,832,000 |
| Zach Allen | DL | $16,477,000 |
| D.J. Jones | DL | $14,600,000 |
| Evan Engram | TE | $14,166,667 |
| Jonathon Cooper | LB | $14,000,000 |
| Courtland Sutton | WR | $13,975,000 |
| Talanoa Hufanga | S | $13,500,000 |
MORE: Full Sean Payton coaching timeline
Why did Broncos release Russell Wilson?
In many ways, Wilson’s time in Denver simply didn’t work out how either side hoped it would.
Denver thought Wilson would finally be the answer to a long cycle of quarterbacks post-Peyton Manning after going through stints with Trevor Siemian, Case Keenum, Joe Flacco, Drew Lock, Teddy Bridgewater and more. By initially trading for Wilson, who was fresh off two outstanding seasons for Seattle, the Broncos appeared to have a real star at quarterback once again.
Instead, Denver went 5-12 in 2023, finishing last in the AFC West as Wilson posted a career-low in completion percentage (60.5%) with 11 interceptions, being sacked more than any other quarterback in the league while the Broncos had the league’s worst scoring offense. Nathaniel Hackett was fired as head coach after the season.
In 2024, things didn’t get much better despite Sean Payton taking over. While Denver finished 8-9 and Wilson had far better numbers (26 touchdowns, eight interceptions), it still wasn’t a playoff season, and the Broncos made it very clear where things were heading with Wilson.
In Week 16, after consecutive losses with the team out of playoff contention, the Broncos announced Wilson would be benched to “preserve financial flexibility,” a largely unprecedented situation. Because Wilson carried a $37 million injury guarantee for 2025, the Broncos wanted to assure he didn’t get hurt before the season ended, giving themselves more financial room if they decided to move on from Wilson.
“Look, I can tell you we’re desperately trying to win,” Payton said at the time, per NFL.com. “Sure, in our game today there are economics and all those other things, but the No. 1 push behind this — and it’s a decision I’m making — is to get a spark offensively.”
Wilson also shared a message on X following his benching.
God’s got me.
Looking forward to what’s next.— Russell Wilson (@DangeRussWilson) December 28, 2023
By then, it was painfully clear where things were heading. Wilson was released in March 2024, with the quarterback’s contract still carrying massive financial implications on Denver for years to come.
MORE: Why the Broncos passed on Josh Allen in 2018 NFL Draft
Russell Wilson career earnings
Per Spotrac, Wilson has made a total of $315,862,520 in his career. Around $181 million of that came from the Seahawks, while around $122 million came from the Broncos.
