The Denver Broncos Are Eating A Record-Setting Cap Hit To Release Russell Wilson

ByJoey Heldon March 4, 2024inArticles›Sports News

After a decade with the Seattle Seahawks, Russell Wilson was traded to the Denver Broncos in March of 2022. Before the next season started, he signed an enormous contract with his new team. The deal was worth $245 million over five years, with Wilson and the team expecting many fruitful years together. Instead, Wilson appeared in only 30 games across two seasons, and the Broncos will be releasing him in a week and a half.

Denver announced it’s going to cut Wilson on March 13, the official start of the new season. As a result, they’ll owe $85 million in dead money, which is a salary cap hit that the team can’t use to sign other players.

That $85 million is a record in dead money charges — by an enormous margin. In fact, it’s higher than the previous two highest dead cap charges combined. The Atlanta Falcons owed $40.5 million after releasing Matt Ryan in 22 and the Green Bay Packers had a dead money charge of $40.3 million after trading Aaron Rodgers to the New York Jets last offseason.

Tom Brady’s $35.1 million dead money charge with the Tampa Bay Buccaneers in 2023 and Carson Wentz’s $33.8 million hit in 2021 with the Philadelphia Eagles round out the top five.

The Denver Broncos Are Eating A Record - 1

Candice Ward/Getty Images

Wilson has made the Pro Bowl nine times during his 12 NFL seasons, but he was very uneven during his two years in Denver. He took 100 sacks and lost seven fumbles while the team went 11-19 in games he played. He was benched toward the end of last season with the Broncos still mathematically alive for the playoffs, an indication his time in Denver was likely done.

The Broncos will get to decide whether to take a larger cap hit in the 2024 or 2025 season, but they’ll owe the total amount of $85 million over the next two years.

They’ll also look to rebuild with significantly less capital than before Wilson joined the team. The Broncos sent three players and five draft picks to acquire him. The picks included two first-rounders and two second-rounders.

Now, the 35-year-old Wilson will look to sign with another team in need of a quarterback. He won a Super Bowl with Seattle and has publicly expressed a desire to win more championships. Some of the teams with available quarterback roles have a few other holes to fill, but Wilson would be an upgrade in several situations.

Both Wilson and the Broncos hope to move on quickly — though the financial damage from this move will be a reminder of a partnership that didn’t go as planned.

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Russell Wilson And Ciara Sell Lakefront Seattle Mansion & Next Door Lot For $31 Million

ByJoseph Gibsonon May 6, 2024inArticles›Celebrity Homes

Back in 2015, a month after signing an $88 million contract extension with the Seattle Seahawks, Russell Wilson paid $6.7 million for a lakefront home about 10 miles outside of Seattle in the town of Bellvue. At some point, he also bought the empty lot next door, where he built a carport. After listing the home in 2022, Wilson and his wife, singer Ciara , have sold both properties for a combined $31 million.

Here’s the house’s official listing:

“A signature waterfront estate offering elevated living, exquisite design, and exceptional views. Bask in bluff-top privacy and beachside fun. Luxury, by the numbers: Main level has flawless 180° views; 20-ft tall entry rotunda; 2 dining spaces; epicurean kitchen with 8-burner stove + 14-ft prep island; pro gym off the 3-bay garage. Upper level has 4 en-suite bedrooms, 2 balconies, 200+ square feet of closet space, 1 Hollywood-worthy glam room. Lower level has 1 bedroom, 1 cinema, 1 dance/yoga studio, a 3-story elevator and 3 large play spaces. The exterior has 3 patios, 12 parking spots, a 2-story treehouse, 3-slip dock, 2 jet ski lifts. Experience 164′ of waterfront w/ extraordinary views. It all adds up to a champion’s life.”

Wilson bought the home three years into his stint with the Seahawks, adding a sports court and two-story treehouse and reportedly planning future developments. But plans changed when Wilson was traded to Denver (where he bought the most expensive house in the history of the city ), and the adjoining properties were listed with a combined asking price of $36 million, but also available separately. And that’s how they were eventually sold.

Now, Wilson has signed with the Pittsburgh Steelers so he may be making some more real estate moves in the near future.

Here’s a video of the now former home of Russell Wilson and Ciara, courtesy of Carmen Gayton on Vimeo:

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