Denver Broncos inform Russell Wilson he is being released, allowing the franchise to avoid an extra $37million fully guaranteed… as Sean Payton looks to start fresh

The Denver Broncos are officially saying goodbye to quarterback Russell Wilson, it was announced on Monday.

The Broncos have informed the 35-year-old that he will be released when the new league year begins on March 13, the franchise announced in a statement.

The move means Denver will avoid an additional $37 million, fully guaranteed, but it marks a multi-million dollar disaster for the team, which is left with a massive $85 million in dead cap charges.

The veteran signal caller will now be available as an option for teams looking for a starting quarterback.

“We spoke with Russell Wilson today to inform him of his release following the start of the league year,” general manager George Paton and Sean Payton said in a joint statement.

“On behalf of the Broncos, we thank Russell for his contributions and dedication to our team and community, as we wish 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.”

Wilson’s release comes after a bitterly disappointing two-year stint in Denver that ended with him being benched toward the end of the 2023 season.

However, he wrote a moving statement thanking everyone within the organization, including the cafeteria staff.

“Over the past two years, you have welcomed my family and me with open arms and embraced us as members of the Denver community,” Wilson said shortly after the news broke.

‘This city will always have a special place in my heart. Our family grew here, we built countless memories and friendships and formed relationships that will last a lifetime.

“To my teammates: thank you for going to war together and for persevering through it.

“There are so many moments that I cherish because of you and I am blessed for the impact you have made on my life. I am beyond grateful to all of you and it was an honor to be able to run out as a teammate.

‘(…) I will never forget Wendy & Brandy in the canteen! Delicious food every day, but even tastier jam! Thank you for always being uplifting.”

The quarterback then teased the next chapter, adding, “Tough times don’t last, but tough people do. God has me. I’m excited about what’s next.”

Wilson had the worst season of his career in 2022, throwing just 16 touchdowns and 11 interceptions. However, the veteran quarterback’s numbers improved in 2023 after Sean Payton was hired as the Broncos’ head coach.

Wilson’s clutch play led Denver to a five-game win streak, sending them into the playoffs after a 1-5 start. However, their constant battle, especially in the end zone, led to friction between Payton and Wilson.

The animosity was on display in December when Payton berated Wilson on the sideline during a loss to the Detroit Lions.

Another factor in the release was how the Broncos approached Wilson’s representation in October about adjusting the start date of the injury bond in his contract. Wilson said the meeting included the threat that he would be benched if he did not agree to the adjustment. The quarterback’s camp has reportedly informed the NFLPA and the NFL about the conversation.

Negotiations were halted and Wilson started the next seven games. However, after a stunning loss to New England on Christmas Eve, Payton decided to bench Wilson as their playoff hopes faded.

When he first entered free agency, Wilson finished his final season in Denver with 3,070 yards, 26 touchdowns and eight interceptions. Over his 12-season career, the quarterback has a completion percentage of 64.7. He spent his first ten seasons in Seattle, where he won a Super Bowl in 2013.