The Denver Broncos made headlines on Monday afternoon when they finally made a decision on their quarterback. In releasing Russell Wilson, they’ll be pulling the plug on a failed two-year experiment, and will be looking for a new signal caller for the future this NFL off-season.
But they’re certainly not done paying him. Wilson will remain on Denver’s payroll for both 2024 and 2025, as he represents the biggest dead cap hit in league history thanks to the gaudy contact that he signed that included hoards of guaranteed money.
The 5 Biggest Dead Cap Hits In NFL History
By releasing Russell Wilson, the #Broncos will take on an NFL record $85M in dead money.
For context: That’s more than the last two dead money records **combined.** pic.twitter.com/VhTNZ0O8PQ
— Ari Meirov (@MySportsUpdate) March 4, 2024
Just how much bigger is his price tag compared to others that have been traded or released in the past? Here are the five biggest cap hits in NFL history:
5. Russell Wilson – Seattle Seahawks
2022 dead cap hit: $26 million
Wilson is on the list twice. When the Seahawks traded him to the Broncos back in 2022, they saved $11 million, but still had to pay $26 million during his first year in Denver. Like his current situation, his contract back then was loaded with guaranteed money, which resulted in the dead cap money for Seattle that season.
4. Carson Wentz – Philadelphia Eagles
2021 dead cap hit: $33.8 million
In terms of what he accomplished for the franchise paying him the money, Wentz is certainly the worst name on this list. He was technically a Super Bowl winner with Philadelphia, but it was Nick Foles who lead the team to glory and eventually won Super Bowl MVP. In order to lower his cap hit when he signed his big contract, the Eagles gave Wentz more money via signing bonus, which would up costing them nearly 20% of their entire payroll in 2021 while he played for the Colts.
3. Aaron Rodgers – Green Bay Packers
2023 dead cap hit: $40.3 million
Aaron Rodgers made a lot of money while watching from the sidelines in 2023. Not only did he earn money from his new team in the New York Jets, but he was also owed over $40 million by Green Bay, who finally have him coming off of their books this coming year.
Assuming Russell Wilson is designated a post-June 1 cut, the aftermath looks like this for the #Broncos …
2024:
$39 million cash*, $35.4M cap2025:
$0 cash, $49.6M cap2026:
Off booksA $255.4M salary cap makes that pill go down a little easier …
(*Minus offsets)
— Tom Pelissero (@TomPelissero) March 4, 2024
2. Matt Ryan – Atlanta Falcons
2022 dead cap hit: $40.3 million
Back in 2018, Ryan signed a 5-year deal with Atlanta worth $150 million and $100 million in guarantees. But he played for the Falcons for just four of those seasons, and the two sides parted ways before the final year of the contract. Ryan went on to play for the Colts in 2022, while the Falcons were on the hook for over $40 million that season.
1. Russell Wilson – Denver Broncos
2024-2025 combined cap hit: $85 million
Wilson’s record-breaking cap hit will be paid out over the span of two seasons, which is something that will hamper the Broncos for more than just the upcoming year. The Broncos will shell out $35.4 million in 2024 and then $49.6 million in 2025, making up the combined $85 million. Not only is it by far the largest cap hit in NFL history, but it is higher than the previous two largest combined.
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