Reports emerged on Thursday morning that quarterback Russell Wilson and the Broncos had agreed to terms on a new deal.
Denver has now made it official as of Thursday afternoon, announcing Wilson’s five-year contract extension through the 2028 season.
The deal is reportedly worth $245 million with $165 million guaranteed.
“In just a few short months with the Broncos, Russell has already had a dramatic effect on this organization both on and off the field,” Broncos General Manager George Paton said in a statement released by the team. “His leadership, work ethic, and championship mentality have helped elevate our team in partnership with coach [Nathaniel] Hackett, his teammates, and the staff. I’d like to thank Greg Penner and our entire ownership group for the support and resources to get this long-term extension done. I also appreciate the collaboration and communication with Russell’s agent, Mark Rodgers, along with Rich Hurtado on our staff. We will continue to focus on building and maintaining a championship roster with Russell as our quarterback well into the future.”
Denver officially acquired Wilson in March after the quarterback spent his first 10 seasons with Seattle. This is also the first big contract extension from the Broncos’ new Walton-Penner ownership group, which officially took over the team last month.
“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,” team owner and 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 will start the 2022 season playing his former employer, the Seahawks, on Monday Night Football in Week One.