Russell Wilson Rumors: Broncos Widely Expected to Release QB Ahead of Free Agency

The Denver Broncos are reportedly expected to release quarterback Russell Wilson ahead of March's free-agency period, eating an NFL-record $85 million in dead money in the process.

Jeff Legwold of ESPN reported "almost no one in the league" expects the Broncos to retain Wilson, who was benched in favor of Jarrett Stidham for the final two games of the regular season.

Wilson is guaranteed $39 million in 2024 regardless of the Broncos' decision. His $37 million salary for 2025 guarantees March 18, meaning Denver will almost certainly make a move before then.

Wilson would likely prefer Denver to cut him as soon as possible so he can get a jump-start on other options on the open market. The legal tampering period does not begin until March 11, so Wilson could have several weeks to negotiate with teams and find a new home before others enter the conversation.

Kirk Cousins, Baker Mayfield and Ryan Tannehill lead the crop of veterans set for free agency this spring.

If all things are equal, Wilson would rank behind Cousins on most lists of the best options available. That would have been borderline unheard of two years ago when Wilson arrived in Denver with a Hall of Fame resume and heralded as the final piece in a potential Super Bowl puzzle. Instead, Wilson's two years with the Broncos were a wild disappointment, with the nine-time Pro Bowler struggling mightily in 2022 before putting together a middling 2023.

It's fair to say most teams would have been fine with Wilson's counting stats, as he finished with 3,070 yards and 26 touchdowns against eight interceptions.

But Broncos coach Sean Payton was repeatedly frustrated with Wilson's inability to move the ball consistently; he did not have a 300-yard passing game after Week 3's 70-20 loss to the Miami Dolphins.

While Wilson is certainly not the quarterback who led the Seattle Seahawks to a Super Bowl anymore, he's still a viable NFL starter who all of a sudden won't break the bank. If a team like the Pittsburgh Steelers could swoop in and land Wilson on something like a three-year, $75 million deal, it would create optimism for an offensive turnaround.