Russell Wilson’s salary cap and dead money totals for the next six seasons
If all goes well with new coach Sean Payton, the Denver Broncos will be able to highlight quarterback Russell Wilson’s strengths in 2023 while minimizing his weaknesses.
Wilson struggled under Hackett last season, but there is now optimism that the QB-friendly Payton will be able to get the best out of Wilson this fall. That’s what fans in Denver are hoping for, and it’s what Broncos Wire hopes to see as well.
There is a possibility, though, that Wilson won’t ever return to being the QB the Broncos thought they were trading for last spring. Wilson’s completion percentage has dipped in each of the last three seasons, and Denver might have to move on from the veteran QB before his contract expires.
Such a scenario could create a complicated situation for the Broncos given that Wilson’s contract would include massive “dead money” salary cap hits in each of the next three seasons. That makes Wilson likely to remain with the team at least through 2023, and perhaps even through 2024 even if he doesn’t return to playing at a high level this fall.
Here’s a look at Wilson’s salary cap hits and potential dead money cap hits for the next six seasons if he is released, courtesy of OverTheCap.com.
2023
Salary cap hit: $22,000,000
Dead money hit: $107,000,000
Potential cap savings: –$85,000,000
2024
Salary cap hit: $35,400,000
Dead money hit: $85,000,000
Potential cap savings: –$49,600,000
2025
Salary cap hit: $55,400,000
Dead money hit: $49,600,000
Potential cap savings: $5,800,000
Being hit with massive dead money cap totals might make the Broncos unlikely to cut Wilson in 2023 or 2024, but his contract becomes easier to get out of in 2025 and beyond. In fact, after the 2025 season, Wilson’s contract has a team option, according to Spotrac.com. If Denver does not pick up that option before the 2026 season, Wilson would be released and the Broncos would be left with a manageable $31.2 million dead money cap hit.
2026
Salary cap hit: $58,400,000
Dead money hit: $31,200,000
Potential cap savings: $27,200,000
2027
Salary cap hit: $53,400,000
Dead money hit: $12,800,000
Potential cap savings: $40,600,000
2028
Salary cap hit: $54,400,000
Dead money hit: $4,400,000
Potential cap savings: $50,000,000
It would be extremely difficult to get out of Wilson’s contract within the next two years, but it would become more feasible beginning in 2025. Of course, an ideal scenario would be Wilson showing enough improvement under Payton to warrant remaining in Denver as the club’s starting QB through the end of his contract. That would be an ideal scenario, but it might not be a realistic one. The Broncos might have to get out of Wilson’s contract down the road. If they do it before 2025, Denver would be left in the red.
