The Denver Broncos inform Russell Wilson that he will be released, allowing the franchise to avoid an additional $37 million fully guaranteed… as Sean Payton looks to start over.

The Denver Broncos are officially moving on from quarterback Russell Wilson, it was announced Monday.

The Broncos informed the 35-year-old that he will be released when the new league year begins on March 13, the franchise announced in a statement.

The move means Denver will avoid an additional $37 million fully guaranteed, but it marks a multimillion-dollar disaster for the team, which will be left with a whopping $85 million in dead cap charges.

The veteran signal-caller will now be available as an option for teams in the market for a starting quarterback.

“We spoke with Russell Wilson today to inform him of his release following the start of the league year,” general managers George Paton and Sean Payton said in a joint statement.

‘On behalf of the Broncos, we thank Russell for his contributions and dedication to our team and community, while we wish him the best as he continues his career.

‘As we move forward, we are focused on building the strongest team possible for the 2024 season and beyond. “We are excited to improve this offseason and will have the flexibility to improve through the draft and free agency.”

Wilson’s release comes after a bitterly disappointing two-year stint in Denver, which ended with him being benched toward the end of the 2023 season.

However, he wrote a touching statement thanking everyone within the organization, including the cafeteria staff.

“Over these past two years, you have welcomed my family and me with open arms and embraced us as members of the Denver community,” Wilson said shortly after the news broke.

‘This city will always have a special place in my heart. Our family grew up here, we created countless memories and friendships, and formed relationships that will last a lifetime.

‘To my teammates, thank you for going into battle together and for being there at all times.

‘There are so many moments I treasure because of you and I feel blessed by the impact you have had on my life. I am beyond grateful for all of you and being able to race as your teammate was an honor.

‘(…) I will never forget Wendy and Brandy in the cafeteria! Daily bringing good food, but even better jams! Thank you for always being uplifting.”

The quarterback went on to preview the next chapter and added: “Tough times don’t last, but tough people do.” God has me. “I’m excited for what’s next.”

More to follow.