In what amounts to a procedural move for his new employer, the Denver Broncos are declining the fifth-year option on recently-acquired quarterback Zach Wilson, the Denver Gazette's Chris Tomasson reported.
The option would have paid Wilson a fully-guaranteed $22.4 million for the 2025 season, the final year of his rookie contract.
Acquired from the Jets in a pick-swap deal last week, Wilson will count roughly $2.72 million against the 2024 salary cap after Denver agreed to take half his salary off New York's hands to facilitate the trade.
The second overall pick of the 2021 draft, Wilson fell out of favor in the Big Apple upon posting a 12-21 record across 33 career starts, throwing more interceptions (25) than touchdowns (23) while completing just 57.0% of his passes. He finished last season as Pro Football Focus' 34th-rated QB among 38 qualifiers.
Though preferably a backup, Broncos coach Sean Payton insisted that Wilson will battle first-round rookie Bo Nix — as well as incumbents Jarrett Stidham and Ben DiNucci — for the team's vacant starting job.
“These guys are all going to compete," Payton said following Nix's selection. "We were really happy to bring Zach on board. There was no specific timing, that just took a little bit of time. In other words, George and Joe with the Jets have been working on that. So it wasn’t a smoke screen. I know when we signed him it was closer to the draft. It very well could have been three weeks ago. We know we wanted to add into the room, and I think I said that much even at the owner’s meetings. We really liked that opportunity. There were a number of veteran backups that signed contracts, and yet we saw talent with a player that just three years ago was the No. 2 pick in the draft. We really like his traits.
"Of course we have Jarrett Stidham here and Ben. So [Pro Football Hall of Fame Head Coach] Bill [Parcells] taught me a long time ago [to] just let them play. We have to maximize the reps that we have, and let them develop, and that stuff will sort itself out.”
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