**Key Takeaways:**
– Denver Broncos will face a significant financial impact from Russell Wilson’s departure, with a $53 million cap hit in 2024 and $32 million in 2025.
– The decision to release Wilson and absorb the substantial dead-cap hit was part of a strategic move to give the team a better chance to win in the upcoming seasons.
– The Broncos have seen more key player departures than acquisitions in this free agency period, signaling a shift in team strategy.
– Denver is exploring options for a new quarterback, including potential trades and using their first-round draft pick.
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In the wake of Russell Wilson’s exit, Denver is bracing for a hefty financial repercussion, shouldering a $53 million cap hit in 2024 and a $32 million hit in 2025. This move underscores the lingering effects of Wilson’s departure on the team’s finances.
The Broncos made the call to part ways with their quarterback on Wednesday, a move that, while anticipated, came with a twist in how the team chose to manage the record $85 million dead-cap hit. Opting for a split that was not initially expected, the Broncos will absorb $53 million this season and $32 million in 2025, diverging from the anticipated even split over the two years.
This decision, spearheaded by Broncos owner Greg Penner, head coach Sean Payton, and general manager George Paton, was driven by a desire to swiftly move past Wilson’s hefty contract. A source revealed that the choice for the 53-32 split was made with the team’s competitive future in mind, considering factors like salary cap projections, roster management, and upcoming contract negotiations, all decided before the free agency period commenced.
This strategic financial maneuvering explains the Broncos’ recent trend of seeing more significant player exits than acquisitions, a notable shift for the team. Since the onset of the free-agent negotiation period, the Broncos have bid farewell to five starters, including Wilson, alongside key offensive and defensive players. Meanwhile, the team has welcomed only a couple of significant additions, both of whom are expected to step up from backup roles to starting positions.
Despite these departures, the Broncos have managed to retain several of their own free agents, though the overall balance has tipped more towards exits. To accommodate Wilson’s dead cap, the team has also restructured contracts, converting substantial salaries into pro-rated bonuses for key players.
Looking ahead, the Broncos are exploring their options for filling the quarterback slot left vacant by Wilson. While initial interest in free-agent Sam Darnold waned, the team is still considering adding a veteran quarterback to the roster. With the No. 12 overall draft pick in their pocket, the Broncos are also eyeing potential new quarterback talents, signaling a forward-looking approach to rebuilding the team’s core.
This period of transition for the Broncos, marked by strategic financial planning and roster adjustments, sets the stage for the team’s efforts to navigate the post-Wilson era and build towards future success.