Insider explains why Broncos should move on from QB Russell Wilson

Wilson has improved after a disastrous 2022 season, completing 122-of-165 passes for 1,305 yards, 12 TDs, and four interceptions. However, the 34-year-old has four years remaining on a contract worth up to $242.5M. Also, his 2025 salary ($37M) becomes fully guaranteed on the fifth league day of 2024.

"I think the Broncos have to bite the bullet and cut him before the 2025 guarantees kick in," wrote ESPN's Dan Graziano. "Designate him as a post-June 1 cut, take the $35.4M in dead money in 2024, another $49M or so in 2025 and draft a QB to rebuild around."

The Broncos could try to trade Wilson to avoid this, but that's unlikely. Teams don't want an aging QB on an expensive contract.

Moving on from Wilson is costly, but a QB on a rookie deal mitigates cap hits. Tankathon projects the Broncos will have the third overall pick in the 2024 NFL Draft and select North Carolina's Drake Maye. OverTheCap estimates that he would have a four-year deal (fifth-year option included) worth up to $42.7M.

Per The New York Times simulator, Denver only has a one percent chance to make the postseason. So benching Wilson for backup QB Jarett Stidham isn't unreasonable. Plus, he won't get hurt.

"That 2025 salary is guaranteed for injury," wrote ESPN's Jeremy Fowler. "That would be a drastic move, but one that would make sense on a financial level if the losses pile up in mid- to late-November."

Not all of the Broncos' problems fall on Wilson. Their defense is last in the NFL in points allowed per game (33.3). Yet the franchise is 6-18 over the past two seasons and must rebuild. The former Pro Bowler's contract complicates a reboot, so Denver must get it off its books.