The Denver Broncos have officially released quarterback Russell Wilson with a post-June 1 designation, spreading the $85 million dead cap charge over two years. This strategic move results in a $53 million cap hit in 2024 and a $32 million cap hit in 2025. The decision was part of the Broncos' plan entering free agency, aiming to create more cap room. By managing the cap hit in this manner, the Broncos now have a little more than $20 million in cap space. This cap management strategy results in the highest single-season cap hit in NFL history, accounting for 20.5% of Denver's adjusted salary cap in 2024.
#Broncos releasing QB Russell Wilson by taking $53 million cap hit on him for 2024. They will have a $32 million cap hit on him in 2025 and then he's finally off the books. https://t.co/GKAkKHjIt6
Broncos will count $53 million of Russell Wilson’s dead cap charges in 2024 after officially processing release, sources say https://t.co/zbANTFqU0S
As expected, the Broncos officially have released Russell Wilson. As not widely expected, they've opted to split the $85M cap charge by taking $53M this year and $32M next year, instead of $35.4M and $49.6M. https://t.co/zHH3zFz9pa
So #Broncos in taking $53 million cap hit this year and $32 million hit next year have opted to pay out a $22 million option on Russell Wilson's contract rather than look to prorate it. Everything will be off the books on Wilson after 2025.
The Denver #Broncos $53M dead cap charge for Russell Wilson this season will represent the highest single season cap hit in any capacity in #NFL history. It accounts for 20.5% of Denver's adjusted salary cap in 2024.
Source says #Broncos release QB Russell Wilson & choose with post-June 1 designation to spread $85 million dead cap hit over two years at $53 million in 2024 and $32 million in 2025. They carved out enough money on cap to do this. Now have a little more than $20 million cap room.
Broncos officially have released QB Russell Wilson with a post-June 1 designation, per source. As was its plan entering free agency, Denver now will spread the cap hit by taking on $53 million in 2024 and $32 million in 2025. https://t.co/fAFl2LOQaX