What is dead money in the NFL? How Broncos could make history with failed $245,000,000 Russell Wilson experiment
The Russell Wilson era was touted as a potential Super Bowl return for the Denver Broncos. Instead, two seasons later, many expect the quarterback to be ousted from the roster. Of course, such a move would be an expensive one with the term "dead cap" looming large. Here's a look at what dead cap is in the NFL and how it can affect the Denver Broncos going forward.
The term $85 million in dead cap money has been tossed around by analysts for months, but what is dead money? Dead money is a payment or series of payments given to a player by an organization as a penalty for cutting ties before a contract is due. In most situations, the existence of a dead cap or dead money is a mechanism that protects the player from getting cut by teams prematurely.
In Denver's case, however, many speculate that the team is ready to pay the quarterback to essentially not remain with the Broncos. With Russell Wilson listing and taking offers on his Denver-based home, many believe the writing is on the wall.
Per Broncos Wire, the cut is likely to happen in mid-March before an additional $55 million becomes guaranteed over the next two years. However, it would still incur a penalty of $85 million over two seasons.
It will be up to Broncos general manager George Paton to decide how they want to handle the $85 million. One option allows them to take on roughly $50 million in 2024, with the other $35 million in 2025. Another option allows them to take on roughly $35 million in 2024 and $50 million in 2025.
No matter how they slice it, if they cut ties with Russell Wilson this offseason, it will be the largest dead money cap hit in NFL history.
Looking back on the potentially wrapped Russell Wilson era
2022 will be a season that lives in infamy for Denver Broncos fans. With the Seahawks' Super Bowl-winning quarterback coming to Denver, many believed the team was headed for greatness. However, his first year in Denver was called a disaster by pundits and fans alike.
Wilson went 4-11, completing a career-low 60.5% of his passes for 16 touchdowns and 11 interceptions in a season that saw head coach Nathaniel Hackett get fired during his inaugural season. In 2023, Wilson started slow but helped bring Denver their winningest season since Peyton Manning retired.
During their run, the team upset the Buffalo Bills and the eventual Super Bowl Champion Kansas City Chiefs in back-to-back stunners. They also defeated the Green Bay Packers, who proved they might have a quality successor to Aaron Rodgers.
However, a late-season loss to the New England Patriots in Bill Belichick's final stretch of his tenure with the team pushed Sean Payton to bench Wilson. He didn't see the field again, and now many expect that he has taken his last snap in orange.