Russell Wilson contract details: Why Steelers can easily trade the veteran QB

Admin October 6, 2024

The Pittsburgh Steelers made a change at quarterback during the 2024 NFL offseason. Out went Kenny Pickett just two years after the team made him a first-round selection. In came the duo of Russell Wilson and Justin Fields, each looking to prove themselves after a change of scenery.

Originally, it was believed that Wilson would be Pittsburgh’s starter. He signed with the Steelers before Mike Tomlin’s squad traded for Fields, and Tomlin made it a point throughout the offseason that Wilson was the team’s top quarterback.

However, a calf injury on the eve of the season threw a wrench into those plans. Wilson was out in Week 1, and Fields got the start. He has led the Steelers to a 3-1 record in their first four games, and it appears that the team will continue trusting the 2021 first-round pick as long as it continues to win.

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That leaves Wilson, 35, in an awkward spot. He came to Pittsburgh hoping to rehabilitate his image after a disastrous two seasons with the Denver Broncos. That opportunity may never arise if Fields continues to play well and keep the Steelers in the playoff hunt.

The good news for Wilson? It won’t be hard for him to get another change of scenery if he and the Steelers deem it necessary. The veteran starter is playing on an uber-cheap contract that could make him an intriguing trade chip for quarterback-needy teams.

Here’s what to know about Wilson’s contract and where it fits in the greater NFL landscape.

Russell Wilson’s contract details

Wilson signed a one-year contract with the Steelers worth $1.21 million during the 2024 NFL offseason. That represented the smallest possible salary Wilson could take, as $1.21 million is the veteran minimum for the 2024 NFL season.

Wilson’s deal with the Steelers was viewed as a bargain and with good reason. It made him one of the league’s lowest-paid quarterbacks in the NFL and one of the lowest-paid projected starters.

However, while Wilson’s contract may have looked small on the surface, he is making much more than it appears. That’s thanks to his five-year contract extension with the Broncos ahead of the 2022 NFL season.

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How much is Russell Wilson making in 2024?

Wilson is making $39 million for the 2024 NFL season. The Broncos are responsible for most of that sum because of the $242.5 million contract they inked with him in 2022.

Wilson’s contract contained $124 million in guarantees. Denver had already paid $85 million of it before the 2024 NFL season, but they still had to pay the 35-year-old the rest of the guarantees as part of his release.

However, Denver’s deal with Wilson included within it offset language. That meant if he signed a contract with another team, his 2024 salary would be subtracted from the amount Denver owed him.

That incentivized Wilson to take the cheapest deal possible, as it allowed his new club the flexibility needed to upgrade the rest of its roster while bringing the veteran quarterback on board. That’s why he took the $1.21 million offer from the Steelers and left the Broncos to foot the $37.79 million left on the bill.

Wilson’s decision created another interesting wrinkle. His contract is also very easy to trade and can be easily absorbed by almost any NFL team.

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If Wilson is traded, any NFL team acquiring him would owe him a prorated version of his $1.21 million salary for 2024. That sum will easily fit into almost any NFL team’s available salary cap space.

According to OverTheCap.com, the Carolina Panthers are the only NFL team that would not presently have the salary cap space needed to trade for Wilson.

That doesn’t necessarily mean teams will be lining up to acquire Wilson if the Steelers make him available. However, as NFL fans saw at the 2023 NFL trade deadline when the Minnesota Vikings traded for Joshua Dobbs, NFL teams are willing to take fliers on veteran quarterbacks, especially when their starters get hurt.

If another starting quarterback gets hurt or a team decides it needs a veteran presence capable of being a solid, fill-in starter, acquiring Wilson would be a low-cost option, not just from a draft capital standpoint but also from a financial standpoint.

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Cheapest NFL QB contracts

Wilson’s contract is cheap, but other quarterbacks on NFL rosters are making less than him.

Sam Hartman is the lowest-paid NFL quarterback on a team’s 53-man roster, per OverTheCap.com. The Washington Commanders’ rookie quarterback is making just $795,000 in 2024 after signing with the team as an undrafted free agent in 2024.

Below is a look at the 10 lowest-paid quarterbacks currently on active rosters based on the average annual value (AAV) of their contracts: