ENGLEWOOD, Colo. — Wherever the Broncos go this season, they will be trailed by the dark cloud that is the Russell Wilson Fallout.
They could lose that cloud by winning. But until then, the Russ ordeal will be the unwanted core of the 2024 Broncos’ existence. In a move that stunned the NFL industry, the Broncos in March released Wilson, once one of the NFL’s brightest star quarterbacks, even though they had to eat his $39 million salary for this season, and even though they were slapped with a two-year, dead-cap charge of $85 million.
The Broncos had two options on how to split up that $85 million cap debt. One was to take a $35.4 million hit this year and $49.6 million in 2025.
Instead, the Broncos chose Door No. 2025 and took a $53 million dead-cap punishment this year and $32 million next season.
Even if no words of rebuilding have been uttered from Broncos coaches or management, the dead-cap divvy sent the message the team is playing for next year, or building for the future. There was also the release of safety Justin Simmons, perceived as the team’s best all-around player, that saved his $14.5 million salary. Simmons was replaced by half the price with free-agent Brandon Jones, a part-time starter in Miami, who will make $7 million.
Veteran defensive lineman John Franklin-Myers was also a nice pickup, especially at the discounted price of $7 million this year. Josh Reynolds, a No. 3-4 receiver throughout his NFL career, was signed for $4.5 million this year, when he will get a chance to become a No. 2 receiver.
And instead of paying $39 million to the veteran Russell Wilson at quarterback, the Broncos drafted his replacement in the first round with Bo Nix. A rookie.
This offseason cash drainage and dead-cap inflation created the impression the Broncos were shopping Walmart for their talent and not Sachs Fifth Avenue, as they did so often in the past. But here’s the thing: There’s quality at Walmart, too. (Ain’t that right, Greg Penner? Wouldn’t you agree, Carrie Walton Penner? What do you say there, Rob Walton?) At the very least, the Broncos believe they got more for their money. Starting with the Bo-for-Russ switch.
“To answer the question bluntly, I think our roster is pretty talented,’’ said veteran right tackle Mike McGlinchey. “I don’t think we’re crippled by anything. I think upstairs has done a great job with the evaluations to bring the people we have in here. Obviously that wasn’t an ideal situation (taking on so much dead cap).
“But just because you don’t have shiny toys and big names and all that kind of stuff doesn’t mean you’re not a great football team.’’
Propped by the $53 million in dead cap from Wilson, the Broncos top all NFL teams with $76.48 million in total dead cap this year. The Buffalo Bills are a distant second with $63.66 million in dead cap. Given the team’s payroll cap is $255.4 million, 30 percent of the Broncos’ spending power has been wasted.
But here’s some encouragement: Tampa Bay ($81.57 million) and the Los Angeles Rams ($79.38 million) each finished last season with a greater dead cap charge than what the Broncos are carrying now. And the Bucs and Rams both finished with winning records and made the playoffs.
Just because the Broncos didn’t overspend in free agency doesn’t mean they haven't acquired impressive talent. It may be unproven, young and unknown talent. But the Broncos believe the talent is there.
“Exactly,’’ McGlinchey said. “And that’s fine. We’ll make sure we tell them.”
And there's a difference between spending and spending smart. The Broncos did sign their two A-graded young players, Pat Surtain II and Quinn Meinerz, to sizeable contract extensions. The Broncos seem well-positioned for the future when the future arrives.
But today? The Russell Wilson Fallout is why oddsmakers have placed the Broncos’ over/under win total at 5.5. The Russ Release is why the Broncos are 6-point underdogs today in their season opener against the Seattle Seahawks, who have had a two-year head start on the Broncos in their transition away from Wilson.
Broncos’ head coach Sean Payton has been on both sides of the expectation spectrum during his 35-year coaching career. And it’s not so bad coming from a position of pleasantly surprising people.
“The perfect scenario is to be the underdog with the better team,’’ Payton said. “You can be the favorite with the better team. You can be the favorite, maybe not necessarily with a good team. I think there’s a bit of pride in all of us in what we do and a competitive nature. Does winning feel greater than losing feels terrible? I think a really good motivating factor, and not just in sports but with all of us, is fear or failure. That’s pretty powerful. I think—and I don’t want to use the word I, I think we like a challenge and that’s a challenge.”
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