Top 5 largest dead cap hits in NFL history ft. Broncos’ $85,000,000 Russell Wilson burden
The Denver Broncos will absorb one of the largest dead cap hits in NFL history after informing Russell Wilson about his release. Wilson’s stint in Denver ends after two seasons before his five-year, $242.5 million contract extension starts.
With the nine-time Pro Bowler continuing his career elsewhere, the Broncos will carry an $85 million dead cap for the 2024 season. That amount must have brought nightmares to fans of other NFL franchises that dealt with huge sums that handicapped their spending power.
5 largest dead cap hits in the NFL
While Wilson’s dead money is the largest in league history, other teams have dealt with the same situation. The massive dead cap prevented them from building a competitive roster.
#5 – Carson Wentz ($33,820,000, 2021)
Wentz had a disappointing 2020 season for the Philadelphia Eagles after leading the league in interceptions (15), turnovers (19), and sacks taken (50). Likewise, Jalen Hurts’ emergence made him expendable.
That’s why they traded Wentz to the Indianapolis Colts in March 2021. In return, the Eagles received a 2021 third-round pick and a 2022 first-rounder. But with Wentz under contract with the Eagles during the trade, they absorbed a $33.8 million contract, one of the largest dead cap hits in the NFL.
#4 – Tom Brady ($35,104,000, 2023)
Brady had a solid 2022 season, finishing with an NFL single-season record of 490 completions for 4,694 yards, 25 touchdowns, and nine interceptions. But after a Wild Card Round loss to the Dallas Cowboys, the seven-time Super Bowl winner announced his second and final retirement.
While Brady is off the roster, he was still on the Buccaneers’ books for $35.1 million in 2023, fourth among the largest dead cap hits in the league. The Bucs had no financial obligation to Brady out of that amount.
#3 – Aaron Rodgers ($40,313,570, 2023)
During the 2022 offseason, Rodgers signed a three-year, $150.8 million contract extension with the Green Bay Packers. However, it eventually became his final season in Green Bay after the Packers traded him to the New York Jets a day before the 2023 NFL Draft commenced.
But since Rodgers had an active contract with the Packers, the team he led to one Super Bowl title carried $40.3 million in dead money last season, third among the NFL’s largest dead cap hits. Rodgers’ first season with the Jets lasted only four snaps after he suffered an Achilles injury.
#2 – Matt Ryan ($40,525,000, 2022)
During the 2022 offseason, the Atlanta Falcons parted ways with long-time franchise quarterback Matt Ryan, ending his 14-season stint with the NFC South squad. They traded the former league MVP to the Colts for a 2022 third-rounder.
But with his five-year, $150 million contract extension ending in 2022, the Falcons absorbed a $40.5 million cap casualty, the second among the league’s largest dead cap hits. Ryan lasted one season with the Colts before getting released.
#1 – Russell Wilson ($85,000,000, 2024)
This amount sets the bar high among the largest dead cap hits in the NFL, more than double Ryan’s dead money. But as Spotrac’s Michael Ginnitti mentioned, the Broncos will officially announce Wilson’s release on March 13, the first day of the 2024 NFL league calendar.
By delaying the announcement to that date, the Broncos can designate the one-time All-Pro quarterback as a post-June 1 designation. That move allows them to distribute the $85 million dead cap over two seasons.
Likewise, the Broncos will exercise Russell Wilson’s $22 million option bonus for 2024, pushing $17.6 million of his dead money to 2025. That move will settle Wilson’s dead cap at $35.4 million for 2024 and $49.6 million in 2025.