Russell Wilson contract details, grade: Broncos will pay for Steelers to add veteran QB

On March 4, the Denver Broncos informed Russell Wilson that his ride with Broncos Country had come to an end.

It was the last thing Denver envisioned when they acquired the Super Bowl-winning quarterback in a blockbuster trade with the Seattle Seahawks just two years ago. In 2022, the Broncos traded a 2022 first-round pick, a 2022 second-round pick, a 2022 fifth-round pick, a 2023 first-round pick, a 2023 second-round pick, tight end Noah Fant, defensive lineman Shelby Harris and quarterback Drew Lock for Wilson and a 2022 fourth-round pick. The trade will be remembered as one of the worst in league history, rivaling the infamous Herschel Walker deal that kickstarted the Dallas Cowboys' dynasty.

Following the trade, Denver signed Wilson to a five-year, $242 million contract extension that would keep him in Denver through the 2028 NFL season. Yet, the Broncos released Wilson before that contract extension even kicked in. As a consequence of releasing Wilson, the Broncos were charged with $85 million in dead money on their salary cap.

Russell Wilson plans on signing a team-friendly, one-year deal with the Pittsburgh Steelers, according to ESPN's Adam Schefter.

Russell Wilson contract details: Steelers sign QB for veteran minimum

Due to the offset language in Wilson's contract with the Broncos, the nine-time Pro Bowl quarterback can sign for the veteran minimum with Pittsburgh, which leaves Denver with the tab for most of his $39 million salary in 2024.

Wilson met with the Steelers in Pittsburgh for over six hours on Friday, according to Schefter. He met with head coach Mike Tomlin and new offensive coordinator Arthur Smith, which ultimately led to their one-year deal.

Wilson was an obvious quarterback choice for Pittsburgh. Tomlin made it clear during his season-ending press conference that the Steelers would be searching for quarterback competition, but they didn't have a lot of salary cap space to acquire one of the top quarterbacks available in free agency.

The Steelers have been reeling since quarterback Ben Roethlisberger retired. Yet, despite their quarterback woes, they are still in much better condition than Denver was two years ago. In 2023, Pittsburgh's defense, led by star pass rusher T.J. Watt, powered the team to a postseason berth with a 10-7 record.

Quarterback Kenny Pickett, who was a first-round pick in the 2022 NFL Draft, struggled during his sophomore season with the Steelers. After inconsistent performances and an ankle injury, the Steelers elected to start quarterback Mason Rudolph for their final three regular season games and their Wild Card playoff loss. With Rudolph set to hit free agency, Wilson will provide competition for Pickett as he enters his third year in the NFL.

In 2023, Wilson completed 66.4 percent of his attempts for 3,070 yards, 26 touchdowns, and eight interceptions in 15 starts. He struggled with holding onto the ball too long, and he failed to compensate for his deteriorating physical skillset with better processing ability. Still, the Steelers have nothing to lose from this signing.

For the Steelers, It's a risk-free acquisition with a ton of upside. If Wilson can return to form and develop a connection with wide receiver George Pickens, the Steelers could find themselves back in the postseason. For Wilson, the Steelers present an opportunity to rejuvenate his career. With organizational stability, a solid defense and explosive weapons, Wilson won't have to carry as much of the load to reach the postseason in Pittsburgh.

Grade for Steelers: ■■■■■■■■■□ 9/10
Grade for Wilson: ■■■■■■■■□□ 8/10