Reports: Broncos, Russell Wilson agree to 5-year, $245M extension

The Denver Broncos are signing quarterback Russell Wilson to a five-year, $245 million contract extension with $165 million in guaranteed money, multiple outlets reported Thursday.

Wilson will be under contract with the Broncos for seven seasons and $296 million.

It's the first significant signing for the Broncos since billionaire Rob Walton, an heir to the Walmart fortune, and his ownership group closed the deal last month to buy the franchise for a record $4.65 billion

The Broncos acquired Wilson in a trade with the Seattle Seahawks in March. Seattle received defensive lineman Shelby Harris, quarterback Drew Lock, tight end Noah Fant, two first-round picks, two second-round selections and a fifth-round pick. The Broncos also received a fourth-round selection.

Wilson, 33, ranks 15th all-time in passing touchdowns with 292. His career passer rating of 101.8 is fourth best all-time.

Drafted by Seattle in the third round in 2012, Wilson led the Seahawks to a 43-8 win over the Broncos in Super Bowl XLVIII in his second NFL season. They lost to the New England Patriots in the Super Bowl the following season.

In his career, Wilson has a 104-53-1 record as a starter and has thrown for 37,059 yards with 292 touchdowns and 87 interceptions. He also has 23 rushing touchdowns.

He made 14 starts in 2021, missing games for the first time in his 10-year career due to injury. He passed for a career-low 3,113 yards with 25 touchdowns and six interceptions.

The Broncos open the season at Seattle on Sept. 12.