Broncos reportedly designate Russell Wilson for post-June 1 release; Denver to take on massive cap hits

The Russell Wilson era in Denver is over … kind of. While the Broncos reportedly released him on Wednesday night (with a post-June 1 designation, according to ESPN), Denver will now absorb the massive cap hit that comes with cutting loose the nine-time Pro Bowl quarterback. 

By virtue of releasing Wilson, the Broncos take on a $53 million dead cap hit this season and a $32 million hit in 2025. The Broncos are paying Wilson $37.79 million to play for another team in 2024. 

That team is the Pittsburgh Steelers, who reportedly agreed to terms with Wilson earlier this week on a one-year, veteran minimum salary of $1.21 million. Wilson will now restart his career with a franchise that hasn’t had a losing season since 2003. 

Wilson’s time in Denver was one of the oddest periods in franchise history. His initial signing with the Broncos was major news at the time, and it was widely celebrated by Broncos fans. The marriage quickly went south, however, as Wilson and the Broncos endured a rocky 2022 season. Russell was particularly bad; he completed barely over 60% of his passes with just 16 touchdowns in 15 games. 

Wilson was much better in 2023, his first and ultimately last season with head coach Sean Payton, who was hired last offseason. But despite his improved play, Wilson was benched for the Broncos’ final two games, an indication that his time with the Broncs was coming to an end. 

Denver’s offseason has been interesting to say the least. Along with parting with Wilson, the Broncos released Pro Bowl safety Justin Simmons and traded receiver and former first-round Jerry Jeudy to the Cleveland Browns for fifth- and sixth-round picks. 

Will the Broncos’ roster rebuild work? While it’s too early to tell, one thing we know is that Payton will bear the brunt of the responsibility for whatever transpires over the next few years. Wilson’s remaining cap hit only adds to Payton’s uphill climb in Denver.