Broncos and Russell Wilson reach agreement on a five-year, $245 million deal extension.
According to reports cited by NFL Network Insider Ian Rapoport on Thursday, Wilson and the Denver Broncos have reached an agreement on a five-year, $245 million extension, with $165 million of that sum guaranteed.
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The extension locks the quarterback to Denver for the following seven years; his original contract, which he signed in Seattle, has two seasons left on it.
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Wilson was acquired from the Seattle Seahawks in March, and it was always the intention to extend his contract.
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Before reaching an agreement on a long-term basis, the parties awaited approval of the new Walton-Penner ownership group and their input.
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Wilson earns $49 million year under the five-year agreement, which places him only behind two-time MVP Aaron Rodgers ($50.3 million) and in front of Kyler Murray ($46.1 million).
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But compared to Deshaun Watson's fully guaranteed $230 million contract, the $165 million guaranteed is less.
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In Week 1, Wilson returns to Seattle with a new team and a whopping new deal.