Russell Wilson’s five-year, $245 million extension has him under contract with the Denver Broncos for the next seven seasons, and the team is getting a franchise quarterback at a relative bargain price.

The deal includes $124 million guaranteed, including a $92 million bonus that will be prorated over the next seven seasons. Wilson will also have a $5 million roster bonus this year.

The simplest way to break down the contact is by Wilson’s salary cap hits each season. Here’s a look at those totals, courtesy of OverTheCap.com:

By today’s quarterback market standards, Wilson will have very team-friendly cap hits over the next three years. And by the time his cap hit jumps above $50 million in 2025, the NFL’s salary cap ceiling will likely have increased significantly.

Thanks to the bonus and structure of the contract, Wilson will receive $57 million this year. It’s a win-win for both sides as the quarterback gets a big payment now while the Broncos get cap flexibility.

And in addition to the cap going up in the coming years, other quarterbacks like Lamar Jackson, Justin Herbert and Joe Burrow will be seeking massive extensions that could make Wilson’s look like a bargain.

Denver had to pay up for Wilson, but the QB’s contract should age well.

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George Paton, Greg Penner comment on Russell Wilson's new contract with Broncos

Story originally appeared on Broncos Wire