The biggest question heading into the offseason for the Denver Broncos is what will happen at the quarterback position.
Many believe that the Broncos will move on from quarterback Russell Wilson, but we might need to pump the breaks on that thought.
On January 9, Broncos head coach Sean Payton spoke to the local media for his end of the year press conference and gave an update on if the team will actually move on from Wilson.
“I spent a half an hour with Russ [Wilson] yesterday and I told him, ‘Look, I don’t think it’s going to be a long-drawn-out process,’ but it hasn’t been decided relative to what our plans are. As soon as we know something, certainly he’d be first to know.”
Payton was asked with a follow up question on if there was a scenario where Wilson remains with the Broncos in 2024.
“Yea, otherwise it would’ve been like ‘Hey goodbye.” Payton continued, “We’ll look at all the scenarios and try to do what’s best for the Broncos, but communication will be important and that final decision has not been made.”
Wilson was benched for the final two games of the season for Jarrett Stidham after falling to the New England Patriots on Christmas Eve.
Stidham started in both of the final two games with a 1-1 record as the Broncos failed to have a winning record for the first-time since 2016.
Wilson Wants to Remain in Denver
After the decision was made that Wilson was benched, the former Super Bowl winning quarterback spoke to the local media expressing that he was hopeful to remain with the Broncos.
“I hope that it’s here, I hope that it’s here for a long time,” Wilson said. “I hope we win some more silverware in the front hall and we get some more championships, and if it’s not here, I’ll be prepared to do that somewhere else, but I hope that it’s here. I genuinely mean that; I brought my family here and everything else.”
“I came here for a reason and that’s to win more championships, that’s still my focus.”
The Athletic’s Dianna Russini reported on December 27 that Wilson expects to be cut by the team in March, ahead of the start of the new league year.
Currently, the Broncos are starring at an $85 million dead cap hit if they release early in 2024, but they can lower that cap hit as well.
If the Broncos wait to release Wilson after June 1, that would divide the dead money over the 2024 ($35.4 million) and 2025 seasons ($49.6 million), per NFL Network’s James Palmer.
“The financial part of it is a significant component in terms of how it plays out,” Broncos owner Greg Penner said, “but that’s not what will drive the decision. The decision will be driven by what’s in the best interest of this football team winning games.”
Options for the Broncos at QB in 2024
Despite the Broncos facing a large dead cap number, there’s still ways to maneuver around contracts to get under the salary cap.
The Broncos could still swing for the fences for a quarterback like Kirk Cousins if he chooses to not re-sign with the Minnesota Vikings.
Cousins is coming off a torn Achilles, but has played at an elite level in Minnesota. A move like this would need to give Cousins a huge signing bonus and backload his contract to prevent an even bigger cap hit to the quarterback position.
With the Tennessee Titans entering a rebuild with a new head coach, Denver could go after Ryan Tannehill since he’s going to be a free agent.
If Baker Mayfield or Gardner Minshew become available, they could turn Payton’s head in their direction after both leading their teams into playoff contention late in the season.
Payton could even go with a familiar face in Jameis Winston after he coached him in New Orleans.
The Broncos could also look to move up in the NFL draft to select a quarterback with the 12th overall pick.
