The Broncos and Russell Wilson have extended their five-year, $245 million contract
According to NFL Network Insider Ian Rapoport, Wilson has agreed to terms on a five-year, $245 million extension with the Denver Broncos, which includes a $165 million guarantee, per sources.
There were only two seasons remaining on the quarterback’s original contract signed in Seattle, so the extension ties him up with the Denver Broncos for the next seven seasons.
As soon as the Seahawks acquired Wilson from the Seattle Seahawks in March, it was clear that the plan was always to extend Wilson’s contract.
In order to strike a long-term contract, both sides waited for the Walton-Penner ownership group to be approved and weigh in before making the deal.
Upon signing the five-year extension, Wilson will receive $49 million annually, which is right behind back-to-back MVP Aaron Rodgers ($50.3 million) and well ahead of Kyler Murray ($46.1 million).
In spite of this, the $165 million guaranteed by the deal falls short of Deshaun Watson’s fully guaranteed $230 million contract.
Wilson now takes over at Denver under former Green Bay Packers offensive coordinator Nathaniel Hackett, after spending a decade in Seattle under Pete Carroll’s ground-first offensive philosophy.
Having won at least 10 games in eight of his 10 seasons in Seattle, Wilson has helped generate high expectations in Denver ever since he was acquired by the Nuggets.
There’s no doubt that Wilson is one of the prettiest deep-ball throwers in the NFL, which will help open up a restricted Broncos offense, and it will give him a chance to prove he can win while doing it.
There are two years left on Wilson’s deal, so the Broncos could have hedged their bets and waited until the 2022 season came to an end before wondering whether a big extension made sense or not.
They backed up their betting on the 33-year-old and their belief that he is the missing piece to their playoff puzzle by backing up their all-in play and their belief in the 33-year-old.