Russell Wilson Contract: Salary, Guaranteed Money

After 10 years and two contract extensions with the Seahawks, Russell Wilson was traded to Denver on March 16, 2022. Later that year, he signed a five-year extension with the Broncos worth more than $200 million.

At the time, it seemed like the Broncos had finally found their quarterback. With the benefit of hindsight, though, the Denver front office may regret its decision. News broke on March 4 that the Broncos plan to release Wilson upon the official start of the 2024 free agency period. 

Russell Wilson Contract

Prior to playing his first season with the Broncos, Russell Wilson signed a five-year contract extension with Denver worth $242,588,236. 

Because Wilson was already under contract through the end of 2023, the five-year extension gave Denver control of Wilson through the end of the 2028 NFL season.

Russell Wilson Guaranteed Money

When Wilson signed his newest contract extension, he was guaranteed $124 million. That included a $50 million signing bonus, plus salaries and bonuses that were fully guaranteed through the 2024 season.

Russell Wilson Salary

Russell Wilson draws $8 million in base salary for the 2023 season. That number swells to $17 million in 2024 and $37 million in 2025. 

In totality, his average annual salary for the current contract extension is $48,517,647.

How Much Do the Broncos Owe Russell Wilson?

Late in 2023, NFL reporters began speculating that the Broncos might opt to trade or cut Russell Wilson ahead of the 2024 season. The impetus for this is his $37 million base salary for 2025 becomes fully guaranteed during the first week of the 2024 season.

Russell Wilson is expecting to be cut by the Denver Broncos in March, per league sources. For almost two months, the quarterback has been starting knowing the organization was most likely going to move on him from after this season.

— Dianna Russini (@DMRussini) December 28, 2023

If the Broncos do ultimately cut Wilson before March 17, 2024, they will still owe him $17 million in fully guaranteed base salary and $22 million in guaranteed option bonus. 

The dead cap hit would be a monstrous number north of $80 million, with repercussions reverberating through 2028. But since keeping Wilson around might lead to an even worse outcome, the Broncos are strongly considering a move away from him. 

God’s got me.
Looking forward to what’s next.

— Russell Wilson (@DangeRussWilson) December 28, 2023

Russell Wilson Trade Details

Back in 2022, Seattle traded Wilson to Denver in exchange for QB Drew Lock, TE Noah Fant, DE Shelby Harris, two first-round picks, a second-round pick, and a fifth-round pick. In addition to Wilson, Denver also received a fourth-round pick in 2022, which it used on DE Eyioma Uwazurike.