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Mile High Money Bags: Russell Wilson Agrees To 5-Year, $245M Extension With Denver

The Denver Broncos are making sure that there aren’t any distractions for their franchise quarterback before the season begins.

It’s clear that the Broncos are ready to ride with quarterback Russell Wilson for the long haul. The Broncos and Russell Wilson have come to terms on a new five year extension that will keep Wilson with the Broncos until he is 40 years old.

According to the Denver Post,

Russell Wilson has a new Broncos contract before playing his first regular-season snap as the team’s quarterback after agreeing late last night to a five-year, $245 million contract extension, a league source confirmed.

“This is a great moment for our football team,” GM George Paton said. “Russ is all about winning and his teammates, first and foremost, and I believe this deal is a win-win for everyone. This allows us to continue building and maintaining a championship roster…. I truly believe we’re building something special here, and this is only the beginning.”

“This is an exciting day for the Broncos and our fans as we announce a long-term commitment to Russell Wilson as our franchise quarterback,” owner/CEO Greg Penner said in a statement. “I want to commend George Paton and his staff for their hard work and diligence in reaching this agreement, which has been a top priority for our organization. In addition to being a terrific quarterback and winner, Russell is a dynamic leader whose positive impact is felt throughout our entire team and community. Our organization is fully committed to winning and competing for Super Bowls with Russell as a Bronco for many years to come.”

Wilson, acquired by the Broncos for a package of three players and six draft picks in March, will carry salary cap numbers of $24 million this year and $27 million next year to finish the four-year, $140 million deal he signed with Seattle in April 2019.

“I came here knowing I was going to be ready to play on these two years (from my Seattle contract), but I think when George came to Mark and I about a potential deal, we got really excited about being here for a long time,” Wilson said. “(But) we didn’t want (negotiations) to be a distraction… To be able to get this done before the season is a blessing.”

The $49 million average of the five-year extension places Wilson second among NFL quarterbacks, behind only Green Bay’s Aaron Rodgers ($50.27 million) and ahead of recent deals signed by Arizona’s Kyler Murray ($46.1 million) and Cleveland’s Deshaun Watson ($46 million).

Wilson has frequently mentioned since joining the Broncos that he wants to play another “10-12 years,” and the new contract will carry him through the 2028 season, which he will turn 41 halfway through. Wilson reiterated Thursday that he wants to finish his career with the Broncos and that he wanted to take a deal that would leave future cap room for re-signing young stars such as Patrick Surtain II, Javonte Williams and Jerry Jeudy.

The Broncos begin the 2022 NFL season in Seattle as they face Russell Wilson’s former team, the Seattle Seahawks on September 12th.

Terrell Thomas, Founder + CEO of These Urban Times, is a journalist, activist, and sports historian. He has worked with some of the largest brands in sports, entertainment, and tv/film. He lives in Atlanta, GA with his wife and two children.

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