Star quarterback Russell Wilson lost money on a pricey asset when he left the Denver Broncos in the offseason. Wilson signed with the Pittsburgh Steelers near the start of free agency in March.
Russell Wilson had to sell his Denver-area house
The Broncos were expected to release Wilson this offseason when they chose to bench the nine-time Pro Bowl quarterback in the final two weeks of the regular season. Wilson put his home on the market this winter in anticipation of his release.
Wilson lost $3.5 million on his house investment
Russell Denver Broncos, Wilson
Dec 3, 2023; Houston, Texas, USA; Denver Broncos quarterback Russell Wilson (3) in action during the game against the Houston Texans at NRG Stadium. Mandatory Credit: Troy Taormina-USA TODAY Sports
Per Courtney Geers with the Denver Business Journal, Wilson lost $3.5 on his nearly two-year investment in his Denver-area home:
“The recently released quarterback lost millions selling the home he owned for less than two years.
Russell Wilson appears to be making a quick departure from Denver and will lose $3.5 million as he goes.
The Broncos’ recently released quarterback has sold his Cherry Hills Village home for $21.5 million, according to property records recorded on March 20. That’s compared to the record $25 million he and his wife, singer-songwriter Ciara, paid for the home at 10 Cherry Hills Park Drive on April 1, 2022.”
That’s kind of a crazy outcome, given how housing market pricing exploded in the previous few years as interest rates skyrocketed.
The Pittsburgh Steelers aren’t paying him close to what he lost
Russell Denver Broncos, Wilson
Nov 26, 2023; Denver, Colorado, USA; Denver Broncos quarterback Russell Wilson (3) before the game against the Cleveland Browns at Empower Field at Mile High. Mandatory Credit: Isaiah J. Downing-USA TODAY Sports
Wilson’s new salary with the Steelers won’t be enough to cover the loss. The Steelers signed Wilson to a veteran minimum one-year deal worth $1.21 million. Fortunately for Wilson, the Broncos are paying him $39 million in the upcoming season for the Super Bowl champion to throw footballs to George Pickens in 2024. That will more than cover the losses Wilson endured for the move.
One has to wonder if Wilson is considering buying a fancy home near Pittsburgh after losing so much cash in Colorado.
