Broncos set unwanted record by releasing Russell Wilson

Dec 3, 2023; Houston, Texas, USA; Denver Broncos quarterback Russell Wilson (3) warms up before the game against the Houston Texans at NRG Stadium. Mandatory Credit: Troy Taormina-USA TODAY Sports

The Denver Broncos are setting an unwanted NFL record with the release of quarterback Russell Wilson.

The Broncos cut Wilson just two years into a five-year, $242.6 million contract. That means the team will incur a dead cap hit of $85 million by simply releasing the quarterback.

By releasing Russell Wilson, the Broncos will take on an NFL-record $85 MILLION in dead cap.

It's the largest dead cap hit in league history—bigger than the previous two records combined. pic.twitter.com/Z64uAk7DCv

— Front Office Sports (@FOS) March 4, 2024

Not only is that $85 million figure an NFL record, but it is higher than the second- and third-highest figures combined. Previously, the record was the Atlanta Falcons’ $40.525 million hit from trading Matt Ryan to Indianapolis in 2022. One year later, the Green Bay Packers took on about $40.3 million in dead cap in trading Aaron Rodgers to the New York Jets.

Wilson’s contract presented all sorts of problems for the Broncos when the quarterback underperformed, and their efforts to mitigate the worst of it only made matters worse. It’s pretty tough to imagine this record being broken anytime soon, unfortunately for Denver. They will be trying to fix the damage from this one for a while.