One of the most disappointing eras in NFL history is over.

On Monday, the Denver Broncos informed Russell Wilson they will release him, the team announced.

“We spoke with Russell Wilson today to inform him of his release after the start of the league year. On behalf of the Broncos, we thank Russell for his contributions and dedication to our team and community while wishing him the best as he continues his career,” Sean Payton and George Paton wrote in a statement, released by the team.

“As we move forward, we are focused on building the strongest team possible for the 2024 season and beyond. We are excited to improve this offseason and will have the flexibility to get better through the draft and free agency,” the statement added.

Less than two years after making the blockbuster trade — in which Denver sent two first-round picks, two second-round picks, a fifth-round pick, Drew Lock, Shelby Harris and Noah Fant to the Seattle Seahawks in exchange for the All-Pro quarterback and a fourth-round pick — the team made the decision to move on from Wilson with nothing in return.

In fact, because of the five-year, $242.6 million extension the Broncos gave Wilson months after acquiring him, the team will have the largest dead-cap hit for a player in NFL history.

The Broncos are expected to make Wilson’s release a post-June 1 designation, meaning the record-setting $85 million in dead cap will be divided over the next two seasons. The team will have a $35.4 million dead cap hit for the 2024 season and a $49.6 million dead cap hit in 2025.

Wilson’s two years in Denver will be remembered as disappointing for all parties involved.

The nine-time Pro Bowler was supposed to provide stability and be the long-term answer at quarterback the team so desperately needed after being on a seemingly endless search for a signal caller since Peyton Manning retired following Super Bowl 50. Instead, his two short seasons in Denver were filled with massive disappointment and some of the worst offensive football in the NFL.

His first year in town, under first-time head coach Nathaniel Hackett, Wilson had the worst season of his career in both individual statistics and team performance.

In 2022, Wilson finished with career lows in completion percentage (60.5), passer rating (84.4), passing touchdowns (16) and QBR (38.7). He capped that off with a career high in sacks (55). Additionally, his 4-11 record as the starting quarterback was by far his worst record since entering the league in 2012.

After the team fired Hackett with two games left in the season, Wilson made it known he wanted Sean Payton as his next head coach.

Wilson got his wish and Denver traded a first and second-round pick to the New Orleans Saints to hire Payton to be their next head coach.

On the surface, Payton significantly helped Wilson’s play as every major statistical passing category, outside of yards per game, improved in 2023. Wilson had 26 passing touchdowns, eight interceptions, a 66.4 completion percent, 98 passer rating, 50.7 QBR, 45 sacks and an NFL-best four fourth-quarter comebacks.

However, it wasn’t enough in Payton’s eyes.

On Dec. 27, three days after the team’s season all but ended after a disappointing loss to the New England Patriots in Week 16, Payton benched Wilson for Jarrett Stidham.

The head coach maintained he sat Wilson because he thought Stidham gave the team a better chance over the final two games of the season. However, it was revealed hours after he was benched that the organization asked their franchise quarterback to push back his injury guarantees after their Week 8 win against the Kansas City Chiefs. Wilson told the team no and went on to start the following seven games before being benched.

After he was benched, Wilson told reporters the Broncos threatened to bench him if he did not push back his injury guarantees.

Over the next few months, and after the season ended, it became clear the best path forward was for the team to move on from Wilson. By releasing him before Mar. 17, the Broncos avoid Wilson’s 2025 salary becoming fully guaranteed. However, they’ll still be on the hook for $39 million in cash owed to him in 2024.

If Wilson signs with another team, Denver will owe him the $39 million minus however much his new team pays him. That will incentivize Wilson to take a veteran minimum deal with his new team since he is guaranteed at least $39 million this year.

As for the Broncos, they are right back in the exact same position they had been in since Manning’s retirement as they are now, once again, in the market for a quarterback.

Stidham and Ben DiNucci are the only two quarterbacks on their roster now.

Kirk Cousins and Baker Mayfield highlight the quarterback class in free agency, with other names such as Sam Darnold, Ryan Tannehill, Mitchell Trubisky, Gardner Minshew and Drew Lock also on the market.

Finally, there is also the draft, which includes a deep quarterback class with potential first-round picks of Caleb Williams, Drake Maye, Jayden Daniels, J.J. McCarthy, Bo Nix and Michael Penix Jr.

After inheriting Russell Wilson last year, Sean Payton will now get to go and find his guy at the most important position in all of sports.