DENVER — Months after acquiring the franchise quarterback in a trade, the Denver Broncos have signed Russell Wilson to an extension potentially worth up to $245 million.
Wilson's five-year extension includes $165 million guaranteed, according to ESPN's Adam Schefter.
The $165 million in guaranteed salary is the third-highest figure in NFL history, behind Deshaun Watson ($230 million) and Kyler Murray ($189.5 million). Wilson is slated to make an average of $49 million per season under his new extension, the second-highest average in the league behind Aaron Rodgers' $50.2 million per season.
Wilson will make $24 million in 2022 and $27 million next year before the multi-year extension kicks in.
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Schefter said the former Seahawks franchise quarterback is now tied to Denver for seven total years and $296 million.
The Seahawks traded Wilson on March 8 to the Broncos for quarterback Drew Lock, tight end Noah Fant, defensive lineman Shelby Harris, two first-round picks, two second-round picks, a fourth-round pick and a fifth-round pick.
Seahawks owner Jody Allen, general manager John Schneider and coach Pete Carroll released statements in March that clearly indicated Wilson first expressed a desire to move on from Seattle. Wilson, meanwhile, told reporters the decision to trade him was "mutual."
Wilson has played his entire career with the Seahawks, totaling 37,059 passing yards in 10 seasons. Wilson's 292 career touchdown passes are the second-most ever in a quarterback's first 10 NFL seasons behind Peyton Manning (306), according to ESPN. The only two players with more touchdown passes than Wilson are Tom Brady (324) and Rodgers (317) over the past 10 years.
Under Wilson's tutelage, the Seahawks made the playoffs in eight seasons and won the franchise's only Super Bowl in 2013. Seattle, who won an average of 10 games each season, was one play away from clinching another Super Bowl title in 2014.
Backup Geno Smith was named the Seahawks' starting quarterback for the 2022 season, with Lock as his primary backup. Neither quarterback has thrown for over 3,100 passing yards in a season, a mark Wilson accomplished in each season with the Seahawks.
Wilson's first game as a Bronco is slated for Sept. 12 against his former team in a nationally televised game.
The Broncos have had 11 different starting quarterbacks in the six seasons since Peyton Manning retired. Denver hasn't made the playoffs since its Super Bowl victory in 2015.
The new extension signals the team's hope that Wilson, who missed just three games in a decade, brings stability to the league's most important position.