The Denver Broncos signed quarterback Russell Wilson to a five-year contract extension on Thursday worth a reported $245 million, including $165 million in guaranteed money.
The Broncos did not disclose financial terms. Wilson will be under contract with the Broncos for seven seasons. The total deal is worth $296 million, per multiple reports.
“In just a few short months with the Broncos, Russell has already had a dramatic effect on this organization both on and off the field,” Broncos general manager George Paton said in a press release. “His leadership, work-ethic and championship mentality have helped elevate our team in partnership with Coach Hackett, his teammates and the staff. … We will continue to focus on building and maintaining a championship roster with Russell as our quarterback well into the future.”
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.
“I had such an amazing first decade of my career, and the next decade, I’m really excited about,” Wilson said at a press conference. “To me, what it was really about was being able to win championships and being able to have enough space in the salary cap so George can make his magic and we can get guys like (linebacker) Randy Gregory when he comes on the team or other great players. We want to make this a destination location.”
Paton said the two sides had set a deadline of midnight Thursday morning to agree to an extension, or they would table negotiations.
“We believed that we were going to be able to get something done with great passion, great belief, and great togetherness in trying to make this a winning football team for a long time,” Wilson said. “There’s no way we couldn’t. We had the same vision in making all this happen.”
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 a finger 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.
–Field Level Media
