Broncos face looming offseason Wilson decision

The Denver Broncos have benched Russell Wilson for now, but they eventually will have to figure out the most effective way of breaking up with the nine-time Pro Bowl quarterback.

That will not be simple.

The Broncos face four potential options as a means of moving on from Wilson this offseason:

• The Broncos simply can release Wilson before the fifth day of the new league year in mid-March, thereby escaping the $37 million in additional guaranteed money that would trigger at that time. This would leave Denver with an $85 million dead cap charge in 2024, which would represent the largest on one player in NFL history.

• The Broncos could opt to use a post-June 1 designation on Wilson’s release, which would split the dead money hits over two years — $35.4 million in 2024 and $49.6 million in 2025. This would be the Broncos more likely choice if they release Wilson, league sources told ESPN.

A post-June 1 release designation becomes even more likely considering that the Broncos have a number of expiring player contracts in 2025 and currently are slated to have well above $70 million in salary cap space — with some salary cap websites projecting Denver to have as much as $100 million — that year, making it much more palatable to absorb some of Wilson’s contract in 2025.

Other NFL teams have proved this season that winning can be done with plenty of dead money on their cap. The Tampa Bay Buccaneers (8-7) and Los Angeles Rams (8-7) are carrying over $80 million in total dead money against their 2023 salary caps but still are in postseason contention.

• The Broncos’ third option, according to league sources, would be a trade. Wilson’s contract contains a no-trade clause, giving him the ability to veto any deal that he does not approve.

But there have been unconventional trades in recent years where a team lands not only a quarterback, but additional draft compensation to help out the trading team, in this case Denver. In March 2017, the Houston Texans traded quarterback Brock Osweiler, a 2018 second-round draft pick and a 2017 sixth-round pick to the Cleveland Browns for a 2017 fourth-round pick that saved Houston $16 million in guaranteed salary.

In 2021, rather than cutting Jared Goff and absorbing a $65 million dead cap hit, the Rams traded the quarterback and a 2021 third-round pick, a 2022 first-round pick and a 2023 first-round pick to the Detroit Lions for quarterback Matthew Stafford — and absorbed only a $22 million dead cap hit.

To trade Wilson, the Broncos would have to sweeten the pot for any acquiring team, which some league sources believe is unlikely but also not out of the question.

• Denver’s fourth option, which seems to be the least likely at the moment, would be for Wilson and the Broncos to somehow reconcile their differences to keep their relationship alive for a third season.

If and when the Broncos move on from Wilson in March, they will have paid him $124 million over the two years of their relationship. They paid him a $5 million roster bonus last March, plus $30 million in salary, a $50 million signing bonus, and the $39 million guaranteed in 2024.

Despite this week’s benching, the Broncos insist that nothing has been finalized regarding Wilson’s long-term future with the organization, and they refuse to rule out the possibility that he somehow could return.

But Wilson, who believes the end of his time in Denver is coming, posted the following message on social media on the night he was informed of his benching: “God’s got me. Looking forward to what’s next.”

What’s next is Wilson serving as Denver’s backup Sunday behind Jarrett Stidham, who went through this exact scenario one year ago with the Las Vegas Raiders, where he replaced Derek Carr for the final two regular-season games.

Stidham’s contract makes him that much more appealing to Denver; he agreed to a two-year, $10 million deal that included $5 million fully guaranteed on the first day of the legal tampering period in March.

Broncos coach Sean Payton, when announcing Wednesday that Stidham would start over Wilson against the Los Angeles Chargers, said the decision was strictly based “on winning” and “to get a spark offensively.” But Wilson said Friday that the Broncos told him earlier this season that they would bench him if he didn’t waive the $37 million injury guarantee.

According to Wilson, the Broncos’ decision-makers approached him after Denver’s victory over the Kansas City Chiefs on Oct. 29.

“They definitely told me I was going to be benched and all that,” he said. “That whole bye week, I didn’t know what was going to be the case. … I wasn’t going to remove the injury guarantee, this game is such a physical game, I’ve played 12 years and all that.”

Wilson has publicly stated that he would like to remain with the Broncos, but he admitted Friday that he has considered the possibility he continues his career elsewhere.

“I hope that it’s here,” he said. “I hope that it’s here for a long time. … If it’s not here, I’ll be prepared to do that somewhere else, but I hope that it’s here. I genuinely mean that.”

ESPN’s Jeff Legwold contributed to this report.