The Denver Broncos have agreed to terms with quarterback Russell Wilson on a massive five-year contract extension.
Buy Broncos TicketsThe deal is worth $245 million with $165 million guaranteed, according to ESPN’s Adam Schefter. The five years will be added to Wilson’s existing two-year deal, so he’s now signed with Denver for seven seasons.
Wilson’s average salary of $49 million per year in his extension makes him the second-highest paid QB in the NFL, only trailing Aaron Rodgers ($50.27 million per year) of the Green Bay Packers.
Giving the quarterback an extension was the first order of business for the team’s new ownership group that’s led by Walmart heir Rob Walton, who instantly became the wealthiest owner in the NFL when he bought the team earlier this summer.
Walton’s net worth fluctuates as the market changes, but Forbes estimates he’s worth nearly $60 billion at the moment. Walton’s group agreed to buy the Broncos for $4.65 billion earlier this year and they’re now set to pay Wilson $245 million in his extension.
Wilson is yet to play a down in Denver, but the Broncos are confident he can make the team Super Bowl contenders again. The 33-year-old quarterback has thrown for 37,059 yards and 292 touchdowns while adding 4,689 yards and 23 more scores on the ground through 10 seasons in the NFL.
The Broncos traded five draft picks and three players to the Seattle Seahawks in exchange for Wilson in March. After making that kind of investment just to acquire the QB, it was only a matter of time before a contract got done.
Wilson’s first game with Denver will be a Monday Night Football showdown against the Seahawks on Sept. 12. That will be appointment television.
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