The Pittsburgh Steelers made a quarterback change during the 2024 NFL offseason. Just two years after the team made him a first-round pick, Kenny Pickett is gone. Enter the duo of Russell Wilson and Justin Fields, each looking to switch positions and prove themselves.
It was initially thought that Wilson would be Pittsburgh’s starter. He signed with the Steelers before coach Mike Tomlin’s team traded for Fields, and Tomlin maintained throughout the offseason that Wilson was the team’s top quarterback.
However, before the start of the season, he suffered a calf injury that seriously disrupted his plans. Wilson was out in Week 1, and Fields started. He has led the Steelers to 3-1 in their first four games, and it appears the team will continue to have faith in the 2021 first-round pick as long as they keep winning.
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That leaves the 35-year-old Wilson in an awkward position. He came to Pittsburgh hoping to repair his image after two disastrous seasons with the Denver Broncos. If Fields continues to play well and keep the Steelers in playoff contention, that opportunity may never come.
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The good news for Wilson? A fresh change of pace wouldn’t be difficult for him if he and the Steelers decide it’s needed. The veteran starter is playing on a super cheap contract and could be an interesting trade chip for a team in need of a quarterback.
Here’s what you need to know about Wilson’s contract and where it fits into the overall NFL.
Russell Wilson contract details
Wilson signed a one-year contract worth $1.21 million with the Steelers during the 2024 NFL offseason. This represents the lowest salary Wilson could receive, as the veteran minimum for the 2024 NFL season is $1.21 million.
Wilson’s contract with the Steelers is considered a bargain, and for good reason. This makes him one of the lowest-paid quarterbacks in the league in the NFL, and one of the lowest-paid starters in the league.
But while Wilson’s contract may have seemed small on the surface, he’s making a lot more money than he seems. That’s thanks to a five-year contract extension with the Broncos for the 2022 NFL season.
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How much does Russell Wilson earn in 2024?
Wilson will make $39 million in the 2024 NFL season. The Broncos are responsible for most of that amount through the $242.5 million contract they signed him in 2022.
Wilson’s contract included $124 million guaranteed. Denver had already paid him $85 million before the 2024 NFL season, but they also had to pay the 35-year-old the rest of his guaranteed money as part of his release.
However, Wilson’s contract with Denver included offset language. That means if he signs a contract with another team, his 2024 salary will be deducted from the amount Denver owes him.
This motivated Wilson to take the cheapest deal possible to bring in a veteran quarterback while allowing him the flexibility he needed to upgrade the rest of his new club. That’s why he accepted the Steelers’ offer of $1.21 million and had the Broncos pay him the remaining $37.79 million.
Wilson’s decision created another interesting wrinkle. His contract is also very easy to trade, allowing him to be easily absorbed by almost any NFL team.
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If Wilson is traded, the NFL team that acquires him will be obligated to pay him a pro-rated 2024 salary of $1.21 million. That amount would easily fit within the salary cap available to nearly every NFL team.
According to OverTheCap.com, the Carolina Panthers are currently the only NFL team without the salary cap space needed to trade Wilson.
However, if the Steelers are able to acquire Wilson, that doesn’t necessarily mean teams will be interested in acquiring him. But as NFL fans saw at the 2023 NFL Trade Deadline when the Minnesota Vikings traded for Joshua Dobbs, NFL teams are willing to acquire veteran quarterbacks, especially if a starter is injured.
If the other starting quarterback gets injured or the team decides they need a veteran presence who can serve as a solid fill-in starter, acquiring Wilson would be a good option, not just from a draft capital standpoint, but from a financial standpoint as well. That would be a low cost option.
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Cheapest NFL QB contract
Wilson’s contract is cheap, but other quarterbacks on NFL rosters make less than him.
According to OverTheCap.com, Sam Hartman is the lowest paid quarterback in the NFL on his team’s 53-man roster. The Washington Commanders’ rookie quarterback will make just $795,000 in 2024 after signing with the team as an undrafted free agent in 2024.
Below are the 10 lowest-paid quarterbacks currently on the active roster, based on the average annual value (AAV) of their contracts.
Sam Hartman, Washington Commanders: $795,000 Tommy DeVito, New York Giants: $832,500 Sam Ehlinger, Indianapolis Colts: $902,676 Tyson Bagent, Chicago Bears: $906,667 Brock Purdy, San Francisco 49ers: $934,253 $ Skyler Thompson, Miami Dolphins: $935,552 Sam Howey, Seattle Seahawks: $1,005,400 Tanner McKee, Philadelphia Eagles: $1,006,630 Shane Buechele, Buffalo Bills: $1,025,000 Dorian Thompson-Robinson, Cleveland Browns : $1,045,567
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