Broncos don't plan to immediately extend Russell Wilson

It has been quite a while since the Broncos needed to prepare for a quarterback contract extension. With the team trading Jay Cutler after his third season and having Peyton Manning play on one contract during his four-year stay, the franchise has not needed to go through an extension process since Brian Griese in the early 2000s.

The team will be there soon with Russell Wilson, who is signed through 2023, but the long-quarterback-starved team is not planning an immediate extension with its new passer, per Jeff Howe of The Athletic, who notes the sides have not begun discussions on Wilson’s next contract.

Wilson signed a $35M-per-year contract with the Seahawks in 2019; that deal topped the market at the time. It has since been topped by six quarterbacks, with Aaron Rodgers' $50.3M-AAV deal leading the way. The Broncos have Wilson attached to $24M and $27M cap numbers over the next two seasons.

Wilson, 33, signed his previous two extensions with one season remaining on his deal. While the Broncos will be prepared to pay their new quarterback at or near the new top-market rate, Wilson could increase his leverage by bouncing back from his 2021 injury-plagued season and playing well for his second NFL team. The salary cap is expected to make another big jump in 2023, further bolstering Wilson’s case for a substantial raise.

Manning’s five-year, $96M contract from 2012 represents the biggest deal the Broncos have authorized. Wilson’s next contract, should it come this offseason or next, figures to be in the $50M-per-year ballpark. It will be interesting to see if Wilson’s camp pushes for a fully guaranteed extension, following the Browns’ Deshaun Watson re-up, or if a deal in the Matthew Stafford range (four years, $160M) would be acceptable. Wilson’s two Seattle extensions came after lengthy negotiations, so it would not surprise if the newly relocated QB — whose agent has one NFL client — is connected to a deal closer to Watson’s.