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The Broncos’ decision to fire coach Nathaniel Hackett and keep GM George Payton, at least for now, suggests that the Broncos are indeed trying to rectify the Russell Wilson debacle.
They really have no choice.
The contract Paton gave Wilson in late August makes the cap consequences of cutting him after the first year of the new contract unacceptable. Cutting Wilson this year will cover $107 million in cap costs. With the post-June 1 designation, the Broncos will carry $22 million this year and $85 million in 2024 in Wilson’s name.
After the 2023 season it will be a little easier. In 2024, if he is designated after June 1, the capped fee for that year will be $35.4 million for him, with $49.6 million for him to roll over to 2025.
Another reason to do it in early 2024 is: If Wilson is on the roster on Day 5 of his 2024 league year, he will be fully guaranteed $37 million in 2025 salary.
Wilson has already received $57 million in 2022. He has another fully guaranteed payout of $67 million over the next two years.
The trade results in a lower cap charge by pushing the rest of the guarantee onto the new team. But who will beat Wilson at $67 million over two years and $104 million over three years?
Best result suggested in spitball style on Tuesday PFT live, with an offer of no effort to recover $40 million in presumably paid but unearned contract bonuses, would convince Wilson to retire. You can (If the retirement was processed after June 1, Wilson would only have $10 million for the 2023 cap and $30 million in 2024.)
Please do your best to get Wilson to leave. He will need at least another year of sluggish play to begin to come to the conclusion that he is no longer the player he used to be and should consider packing it up and walking away. Still, why waive a fully vested warranty?
Sure, it’s bad for a team to owe a lot of money to a player who isn’t earning. But in the end, it’s good for the player that he fully guarantees the $124 million check over his three seasons.
in short? Unless Wilson really retires, it looks like the Broncos will be with him for another year. Moving forward will become more manageable after 2023 and it will be essential to avoid his $37 million full guarantee that will vest in March 2024.
our rating? The Broncos will try to fix Wilson in 2023. If we can’t bring him back to who he was, he’ll be gone in 2024.
