The sale of the team to Greg Penner’s group held up any extension for Wilson initially.
“Broncos were criticized when they gave Russell Wilson essentially a 3-yr, $124M contract extension in 2022 when he had 2 yrs left on his deal. But court documents from NFL/players union collusion case reveal it could have been worse,” 9News’ Mike Klis posted on X on June 24 in reaction to the revelation. “ It was stated Wilson asked for 7 yrs, $350M fully guaranteed. Fair starting point given QB market.”
Moreover, Broncos owner Greg Penner was hesitant about extending Wilson in the first place.
“Mr. Penner’s handwritten notes show that he questioned the urgency of a contract extension. He wrote, ‘2 years left on contract; why not wait?’” Torre’s findings reveal. ”At the same time the notes indicate that there were reasons to get a deal done, particularly if they could agree to one that was not ‘all guaranteed.’”
Wilson, now of the New York Giants after one season with the Pittsburgh Steelers, completed 63.3% of his passes for 6,594 yards, 42 touchdowns, and 19 interceptions with the Broncos.
Broncos ‘Didn’t Blink’ at Russell Wilson’s Contract Request
The Broncos, like most of the league, viewed Deshaun Watson’s five-year, $230 million fully guaranteed contract with the Cleveland Browns as an “outlier” that they would not approach Wilson, believing they had “leverage.”
“He settled for 7 yrs and $296M with only the 3 yrs and $124M fully guaranteed. ($41.33M per),” Klis posted. “Broncos ate his third year and $39M in return for drafting Bo Nix.”
Moreover, Wilson testified that the Broncos held firm when his camp submitted their offer.
“Mr. Wilson testified that early in the discussions with the Broncos he requested a seven-year fully guaranteed contract of around $50 million a year, and ‘They didn’t blink,’” the documents Torrey shared show. “They kept saying, ‘We’ll do whatever it takes. We’ll do whatever it takes.’
“‘I would say shortly after, maybe within the next ten days or so, they started getting cold feet on doing this fully guaranteed thing.”
The Broncos benched Wilson for the final two weeks in 2023, a financially motivated move.
The Broncos have $32 million in dead money on their books this season from cutting Wilson.
However, their record-setting hit and the limitations it put on their efforts to build out the roster last season could have been far greater. Even more encouraging, the Broncos were able to overcome their financial constraints. They made the playoffs for the first time since 2015.
Broncos Spared of Collusion Claims
Wilson and the Broncos were absolved of the crux of the matter in Torre’s reporting, which is collusion among NFL owners.
“The NFLPA alleged that the collusive agreement of the NFL precluded three other quarterbacks—Russell Wilson, Lamar Jackson, and Kyler Murray—from obtaining fully guaranteed contracts after the Watson contract,” documents show. “The Broncos’ unwillingness to accept a fully guaranteed contract was not the result of a collusive agreement among team owners triggered by the March 2022 annual meeting or otherwise.”
Wilson’s tenure was polarizing from the outset. Reports of his private office, amid other concessions the organization made, marred it. Broncos head coach Sean Payton denigrated the environment after taking over.
That is good news for the Broncos as they continue to move away from the Wilson era with Nix.
“We’re still not there yet. And yet, we’re a lot closer than we were at this time a year ago. That was misery, sorrow, drudgery – give me some other adjectives,” Payton told reporters in January. “God, that was brutal, let’s say that.”
