The Denver Broncos managed to navigate a challenging salary cap situation in 2024, partly due to their decision to release former starting quarterback Russell Wilson the previous offseason. While absorbing an $85 million dead cap hit as Wilson was set to begin a five-year, $245 million contract, the team still faces financial challenges.
The Broncos owe an additional $35 million in dead money for Wilson, which will count against their 2025 salary cap.
For Wilson, a season that began with promise ended in disappointment, and his future now appears uncertain.
“This will be the third time in the past four years the Steelers enter the offseason with questions at quarterback,” wrote Gerry Dulac of the Pittsburgh Post-Gazette on January 18. “Mike Tomlin’s remarks about the Steelers being eliminated in the first round of the postseason three of the past four years suggest another change is on the horizon.
“When Wilson and the Steelers agreed to a one-year, veteran minimum contract in March, it was with the intention of signing a longer deal after the season. But after five straight losses to close out the year and a strained relationship with offensive coordinator Arthur Smith, that deal may not happen.”
Wilson signed a one-year, $1.2 million contract with the Steelers in free agency, far less than the $49 million annual average he would have received with Denver. During the 2024 season, he threw for 2,482 yards, 16 touchdowns, and 5 interceptions. According to Over The Cap, Wilson’s performance warranted a $15.7 million valuation.
Wilson’s Late-Season Struggles Mirror Denver Days
Nnamdi Madubuike of the Baltimore Ravens sacks Russell Wilson during the Steelers’ Wild Card matchup.
Wilson’s season got off to a promising start, with the team going 6-1 after his return from a calf injury that sidelined him for the first six weeks. However, the Steelers faltered down the stretch, losing five consecutive games to end the regular season and suffering a Wild Card loss to AFC North rival Baltimore Ravens.
Wilson’s struggles resembled the issues that plagued him in Denver, raising questions about his future.
He completed 68.9% of his passes for 270 yards, 2 touchdowns, and no interceptions against the Ravens but was sacked four times, including during the final drive of the 28-14 loss.
“Wilson was brought here to end the playoff drought, but it didn’t happen,” Dulac noted. “Signing another veteran quarterback doesn’t make sense. That’s why Fields will likely take over. He’s 25 and showed significant development in Chicago.”
Broncos head coach Sean Payton has commented on sacks being partly attributable to the quarterback. While Wilson’s sack rate in 2024 was lower than in his two seasons with Denver, per Pro Football Reference, it was still the fifth-highest of his career and ranked ninth in the NFL.
Broncos’ Quarterback Depth Chart Faces Overhaul
Bo Nix huddles with teammates before the AFC Wild Card Playoff against the Buffalo Bills.
Bo Nix is cemented as Denver’s starting quarterback, but there are looming questions about his backups. Jarrett Stidham, the team’s QB2 in 2024, and Zach Wilson are both pending free agents.
The Broncos acquired Zach Wilson from the New York Jets in a pre-draft trade, but with Nix’s rise, Wilson was relegated to QB3 and couldn’t surpass Stidham. This may lead him to explore opportunities elsewhere.
“The No. 2 overall pick in the 2021 draft was inactive as an emergency quarterback for all 18 games,” reported Mike Klis of 9News on January 15. “Wilson will likely seek a better opportunity for playing time than he would have behind Nix in Denver.”
Meanwhile, Stidham could be more inclined to stay. He appeared in three games in 2024, primarily in mop-up duty, taking just 14 total snaps. Despite losing the starting role to Nix, Stidham reportedly enjoys the team’s culture and quarterback room.
Stidham, who has earned $5 million annually as a backup, could return, but he may also pursue more playing time elsewhere.
Both quarterbacks’ decisions will shape Denver’s depth chart heading into the 2025 season.
