The clock is ticking when it comes to Russell Wilson’s contract extension
Jul 24, 2022, 5:45 PM
August 9. That’s the date when things will change for the Broncos.
The 38-year era of the Bowlen family owning the team will come to an end. The chapter headed by Robson Walton will begin.
It’s a bittersweet day. Pat Bowlen was a tremendous steward of the franchise. So was the trust that has run the team since 2014.
They’ll be missed. Their prioritization of winning was something everyone in Broncos Country should appreciate.
But it’s time for something new. Here’s hoping the Walton-Penner group will carry on the Bowlen legacy, taking the organization to the next level.
It won’t take long to find out if that will happen.
Forget about a new stadium. That’ll be years in the making. The impact of new ownership will be felt immediately.
Or at least it should be.
When the Broncos traded for Russell Wilson in March, it signaled the end of a six-year odyssey. Ever since Peyton Manning retired after Super Bowl 50, the franchise has been searching for a franchise quarterback.
Wilson provides that missing piece. He makes the team relevant again.
But there’s no guarantee that the QB is the long-term answer. He will be here in 2022, but every season after that is currently not assured.
Yes, Wilson said all the right things when he arrived in Denver. And clearly, the Broncos want him to be a part of the organization for years to come.
But the quarterback only has two years left on his contract. He’s a free agent after the 2023 season.
That’s a situation that needs to be rectified. Wilson needs to be locked down with a contract extension ASAP.
The Broncos couldn’t do that when they acquired the QB. Until the ownership situation was solidified, the team’s hands were tied.
Why? Because it a $250 million commitment. That’s an investment that requires sign off from the boss.
Plus, it requires a check. While Wilson’s salary will be paid out over the years via revenue that the team generates, NFL rules require that all fully guaranteed money must be placed in escrow at the time the deal is consummated.
It’s an outdated rule, one that goes back to a day and age when not every franchise was solvent and players were racing to the bank to deposit paychecks. But it’s still one that has to be navigated.
When DeShaun Watson signed a $230-million deal that was fully guaranteed, it became clear that Wilson would get a similar deal. Kyler Murray inking a contact with $160 million guaranteed last week only reinforced that’s fact.
Wilson is going to be the highest-paid player in the league when he agrees to his deal. He’s also going to break the record for the most guaranteed money.
That means putting a quarter billion dollars into escrow. The trust didn’t have the means to do that. Walton does.
He needs to do it on August 9. It should be his first order or business as the Broncos owner.
If he doesn’t, it’s time to start worrying. And with each passing day, the level of concern should rise.
First, it’ll tell everyone something about Walton. Is he willing to spend big? Or is he a penny pincher?
But more importantly, it’ll ensure that Wilson is in Denver for the rest of his prime. That’s paramount.
The Broncos traded a king’s ransom for the QB. The wisdom of the blockbuster trade disappears if Wilson doesn’t play five-plus years in Denver.
It’s time to make sure that happens. A contact extension does that; otherwise, it’s up in the air.
That may sound like an alarmist, but it’s just the reality. With each passing day, there’s a greater chance that Wilson will decide Denver isn’t where he wants to be.
What happens if Nathaniel Hackett proves to be in over his head? What goes down if this season is a disaster?
It’s not implausible that Wilson would want to abandon ship. He’s already bolted one team. The second time around is far easier.
As unlikely as that scenario is, there’s more than a zero percent chance that it happens. That’s why the Broncos need to seal the deal.
They should’ve discussed a contract extension before ever doing the deal. They should’ve spent the last five months hammering out the details in principle.
Now, it’s time to sign on the dotted line.
Robson Walton takes over on August 9. That’s when the clock starts ticking.
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