Everyone knew it was coming at some point, but with the ink still relatively dry on the sale of the entire franchise, you might have expected a potential Russell Wilson contract extension to wait at least a little while. The Denver Broncos apparently had other plans in mind. Before many in Broncos Country even woke up on Thursday, news of a massive contract extension for the team’s new star quarterback was broken.
Since the news was broken, details of the contract have emerged. There are huge implications of the contract from both a team and league perspective. Russell Wilson didn’t reset the bar at the quarterback position, but he came very close. Which details need to be focused on? What impact does Russell Wilson’s contract have on the Broncos’ roster now? What about their ability to make other moves in the future?
There’s a lot to unpack.
Russell Wilson contract extension breakdown
Five years, $245 million (on top of remaining two years)
Overall: 7 years, $296 million total via Mike Klis()
2022: $50 million signing bonus, $5 million option, $2 million base salary ($57M)
2023: $20 million option, $8 million salary, both fully guaranteed ($28M)
2024: $22 million option, $17 million salary, both fully guaranteed ($39M)
2025: $37 million salary guaranteed on 5th day of league year ($37M)
2026: $40 million (non-guaranteed)
2027: $45 million (non-guaranteed)
2028: $50 million (non-guaranteed)
Russell Wilson cap hits over the next seven years
2022: $17M
2023: $22M
2024: $35.4M
2025: $55.4M
2026: $58.4M
2027: $53.4M
2028: $54.4M
In case that seems like a mouthful, this seven-year, $296 million extension essentially boils down to a four-year deal worth $161 million in total guaranteed money. After those first three years, $124 million, however, nothing is fully guaranteed on this deal. Practically speaking for Russell Wilson in terms of the real money he’s guaranteed to see hit his bank account, the deal is for three years, $124 million. Of course, we all expect him to get at least four years, $161 million and then some because everything is anticipated to go well, right?