The NFL moved into new territory this offseason, with one Broncos decision creating a staggering gap between the most costly dead money hits and No. 2 on the all-time list. Beyond Denver’s Russell Wilson release, other teams are taking on notable dead cap hits in 2024. Here are the players who will account for more than $10MM in dead money on teams’ payrolls this year.
- Russell Wilson, QB (Broncos): $53MM
- Stefon Diggs, WR (Bills): $31.1MM
- Kirk Cousins, QB (Vikings): $28.5MM
- Haason Reddick, EDGE (Eagles) $21.52MM
- Jamal Adams, S (Seahawks) $20.83MM
- J.C. Jackson, CB (Chargers): $20.83MM
- David Bakhtiari, T (Packers): $18.15MM
- Danielle Hunter, EDGE (Vikings): $14.91MM
- Carlton Davis, CB (Buccaneers) $14.1MM
- Andrus Peat, OL (Saints): $13.64MM
- Kevin Byard, S (Titans): $13.36MM
- Mike Williams, WR (Chargers): $12.46MM
- Aaron Jones, RB (Packers): $12.36MM
- Chandler Jones, EDGE (Raiders): $12.27MM
- Mike Evans, WR (Buccaneers): $12.19MM
- Keenan Allen, WR (Chargers): $11.62MM
- Xavien Howard, CB (Dolphins): $11.41MM
- Michael Thomas, WR (Saints): $11.19MM
- Laken Tomlinson, G (Jets): $10.74MM
- Leonard Williams, DL (Giants): $10.64MM
- Arik Armstead, DL (49ers) $10.31MM
- Quandre Diggs, S (Seahawks): $10.26MM
- Byron Jones, CB (Dolphins): $10.1MM
- Maliek Collins, DT (Texans): $10MM
Months after trading for Wilson, the Broncos gave the decorated quarterback a five-year, $245MM extension. While Wilson offered something of a bounce-back effort from a shockingly mediocre 2022, Sean Payton‘s team still opted to designate him as a post-June 1 cut. Wilson’s $37MM injury guarantee, which the Broncos attempted to move in an effort that led to NFLPA involvement but no grievance, would have resulted in comparable dead money in 2025 had he remained on Denver’s roster on Day 5 of the 2024 league year and then been released next year.
The Broncos will receive a small cap credit — due to Wilson’s veteran minimum Steelers deal — in 2025, but the team will take on more than $83MM in total dead money from the release. This shatters the NFL record for dead money, which the Falcons previously held by trading Matt Ryan ($40.5MM), and the contract will remain on Denver’s books through the 2025 season. The Broncos opted to take on more dead money this year than next, separating this post-June 1 cut from most teams’ strategies.
The Bills’ decision to trade Diggs less than two years after giving him a four-year extension broke the non-QB dead money record. Unlike the Wilson matter, Buffalo will take on the Pro Bowl wide receiver’s full dead cap hit this year. Ditto Green Bay, which passed on a Bakhtiari post-June 1 designation. The Chargers will also be rid of the Allen and Williams responsibilities after 2024. The Seahawks also passed on post-June 1 designations with Adams and Diggs.
New Orleans has Thomas set to count more than $9MM in dead money in 2025 as well due to using the June 1 strategy. The Dolphins are still paying out the Jones contract from a 2023 post-June 1 designation, while Howard’s post-June 1 status will create a $15.7MM dead money penalty in 2025.
Void years created the Vikings’ Cousins cap hit. After attempting to negotiate a fourth contract with the veteran quarterback last year, the parties failing to come to terms resulted in void years being added in a restructure. The Falcons came in much higher than the Vikings were willing to go, guarantee-wise, leading Minnesota to a new QB path and significant Cousins dead money.
The Eagles also included three void years on Reddick’s contract, and the Buccaneers will eat some Evans dead money — despite re-signing the 11th-year wide receiver just before free agency — due to a void year-driven trigger before the latest contract was signed.