Broncos' Top QB Options in 2024 NFL Free Agency, Draft After Russell Wilson Release

The ill-fated Russell Wilson era in Denver officially ended on Monday after the Broncos announced his release.

The trade that brought Wilson and a fourth-round pick to Denver in 2022 proved to be disastrous, costing the team two first-round picks, two second-round picks, a fifth-rounder and tight end Noah Fant, quarterback Drew Lock and defensive end Shelby Harris.

In return, the Broncos received 6,594 passing yards, 42 touchdowns, 19 interceptions, 100 sacks taken, a 63.3 completion percentage and an 11-19 record as the starter across two seasons.

The team will save $37 million by cutting him, though they'll also absorb the largest dead cap figure ($49.6 million in the 2025 season) in NFL history, per Spotrac, and the fourth-largest dead cap hit ever in 2024 ($35.4 million).

So with that costly chapter behind them, how will the Broncos pivot at quarterback?

The first obvious option would be at the draft, where the Broncos hold the No. 12 pick. That is going to likely take them out of the running for players like Caleb Williams, Drake Maye and Jayden Daniels—and perhaps even for J.J. McCarthy—but could make them an interesting suitor for Michael Penix Jr. or even Bo Nix, depending on how their board falls.

Lance Zierlein of NFL.com projected them to trade up to No. 9 and select McCarthy in his latest mock draft, calling the Michigan man "a young signal-caller with plenty of upside for Sean Payton to mold."

The B/R NFL Scouting Department, meanwhile, projected McCarthy to drop to No. 12 for the team in its latest mock, calling him a "a reliable pre-snap processor who plays with impressive timing and confidence as a thrower. He's also unafraid to take hits in the pocket, or escape to make something happen if need be. All of that fits well into Payton's offense."

It wouldn't be shocking to see the Broncos move up the board if they falls in love with a young quarterback, though after giving up significant draft capital for Wilson and watching that blow up in their face, there may be hesitancy to go for broke in that manner again.

The other option would be to sign a stopgap option in free agency and letting the board fall where it may in the draft, taking a "best player available" approach rather than tunnel visioning on a quarterback.

A lack of cap space and a roster that doesn't appear ready to immediately compete for titles should take them out of the running for a veteran like Kirk Cousins, while Baker Mayfield seems likely to return to Tampa Bay.

That means the team would be better suited going after short-term solutions like Jacoby Brissett, Ryan Tannehill, Jameis Winston, Gardner Minshew or Tyrod Taylor. Denver could then go into the draft with the ability to select a quarterback if the right option presents itself, but without the desperation to reach or give up major draft capital in a trade.

This is a team that needs an infusion of young talent. The Broncos are likely looking at a multi-year rebuild. A bit of patience in seeking out the next franchise quarterback while addressing other needs on the roster seems prudent.