Current Contract Status and Payment Obligations
Russell Wilson remains under contract with the Denver Broncos through the 2024 NFL season, and the team is still obligated to pay him guaranteed money from the original deal. The contract structure includes significant dead money charges on the Broncos salary cap because Wilson was traded to the Chicago Bears in 2022 before the final years of his agreement expired. According to NFL salary cap reporting, the Broncos are scheduled to absorb specific cap hits tied to the remaining guaranteed portions of his signing bonus and roster bonuses as detailed in Forbes contract breakdowns. These payments are not tied to his current playing status but to the terms signed before the trade.
The Broncos front office has publicly confirmed that the organization continues to honor the financial terms of the contract even after Wilson joined the Bears. Salary cap documents filed with the league office show the dead money and accelerated bonus proration charges affecting Denver's cap space across multiple seasons via OverTheCap salary cap data. This means the Broncos are still paying for a player who no longer practices or suits up for them, which is a common outcome in NFL trades involving large guaranteed contracts.
Trade Details and Financial Impact on Denver
Trade Package and What Denver Received
In exchange for Wilson, the Broncos received a 2022 first-round pick, a 2022 third-round pick, a 2023 first-round pick, and a 2023 second-round pick from the Bears. The trade was finalized on March 16, 2022, and the Broncos immediately cleared significant cap space by removing Wilson's base salary and cap hit from their future projections. However, the guaranteed money already paid to Wilson in prior years created a long-term financial obligation that the team continues to manage per Sports Business Journal trade reporting.
The dead money hit from Wilson's contract has been one of the largest in recent NFL trade history, affecting Denver's ability to sign free agents and extend other players. Cap analysts note that the Broncos absorbed these charges across the 2022, 2023, and 2024 salary cycles, with the exact figures varying based on bonus proration schedules and roster bonus timing using Pro Football Reference contract data. The financial impact is separate from Wilson's new earnings with the Bears, where he signed a one-year, $35 million deal for the 2024 season.
Why the Broncos Continue Paying Wilson
Guaranteed Contract Terms and NFL Rules
NFL contracts are fully guaranteed in most cases when a player is traded after signing a new deal, and Wilson's original contract with the Broncos included substantial guarantees that were fully vested at the time of the trade. Once a player is traded, the original team remains responsible for any guaranteed money not yet paid, and the new team assumes only the remaining base salary and cap hits for the current season. This structure is why the Broncos are still making payments tied to Wilson's signing bonus even though he is no longer on the roster per NFL.com rules explanation.
The Broncos organization has treated these payments as a sunk cost of doing business, similar