The Broncos lost any realistic chance of making the playoffs by losing to the Patriots on Sunday. That leaves them with a 7-8 record — and just a 1.4 percent chance of reaching the postseason — as 2023 comes to a close. Now they're benching quarterback Russell Wilson for the final two games.
The Broncos insist the decision to turn to backup Jarrett Stidham is intended to provide an offensive “spark” after a 1-3 stretch – and it has has nothing to do with the QB's contract, according to CBS Sports HQ senior NFL insider Josina Anderson. But the signs are clear: Wilson had recently dodged questions about his future in Denver beyond 2023, while an injury in the last two games would have prevented the Broncos from seamlessly releasing the QB after the season if the team wanted a move At.
Why did Sean Payton move from Wilson to Stidham?
“I can tell you, look, we’re desperate to win,” the head coach said. via 9News Sports in Denver. “The biggest drive behind it, and this is a decision I make, is to provide a spark on offense. Obviously it's difficult, and we all feel like, 'Man, we didn't do a good enough job,' but one of them.” The things we saw when we signed Stidham in the offseason, not only at Preseason games but also regular season games, but I'm looking forward to seeing him play.
“If I didn’t feel like he gave us the chance to win, we wouldn’t take this step.”
According to The AthleticWilson expects a cut in March. He reportedly knew about his fate with the organization for almost two months. The Broncos reached out to Wilson's representative in late October if he didn't push back the 2025 injury guarantee trigger date – that's a guaranteed $37 million on the fifth day of the league year.
Wilson has certainly improved from his erratic 2022 Broncos debut, finishing Week 16 with 26 touchdowns, eight interceptions and a 98.0 passer rating – his best in three years. But Denver's offense struggled overall, ranking 16th in scoring and 25th in yards per play. And then there's the QB's lucrative contract, a whopping $245 million deal that's set to count $35.4 million against the 2024 salary cap.
Could Payton and the Broncos' relatively new ownership group already prefer to hit the reset button under center? Secure. Although Wilson has improved this year, he is 35 years old and very expensive (No. 5 among annual QB earners). But can Denver keep going? Is it even possible for Payton and Co. to get out of Wilson's deal after the 2023 season?
The answer is Yes, but it probably won't save Denver much money in the short term.
Here are the details: Wilson is currently under contract through 2028, but his money is only guaranteed through 2024. That means his entire 2025 salary ($37 million) will be guaranteed if he remains on the Broncos' roster at the start of the next league year (March 17), per Over the Cap. Therefore, it's likely that Denver will make a decision on the QB's future by then.
The options: The Broncos can completely release Wilson by March 17, but doing so would actually result in a loss of $49.6 million in 2024. Denver is already projected to be at least $18 million over the 2024 cap, so a straight cut would result in a loss of $49.6 million. That doesn't make sense. However, it is entirely possible that he will be released after June 1st. In this scenario, Denver would eat up Wilson's 2024 salary ($35.4 million) but actually avoid a financial hit against the 2024 cap. In other words: You would save nothing immediately, but millions beyond 2024.
The other option, which is far less likely: trading Wilson. It's not that the QB doesn't have a market; Chances are he'll have restored some of his value to other NFL teams after recovering starting in 2022. But a trade before June 1 would result in an immediate loss of $32.6 million against the Broncos' 2024 cap. Denver could sign him after June 1 to save $17 million — the best-case financial scenario for parting ways with the QB — but that would require waiting until the summer, well after free agency begins to find a trading partner.
The other factor in all of this: Wilson's health status for the remainder of 2023. Injured players cannot be fully released – at least without a negotiated settlement – which explains Denver benching Wilson for the last two games. The Raiders notably demoted former starter Derek Carr, who had a similar injury guarantee in his contract, at the end of 2022 before releasing him in the offseason. But Carr's bench seat was the guarantee of an eventual separation; That seems to be happening in Denver.