Star quarterback Russell Wilson wasted money on a valuable asset when he departed the Denver Broncos in the offseason. Wilson signed with the Pittsburgh Steelers shortly after the start of free agency in March.
Russell Wilson had to sell his Denver-area home.
The Broncos were anticipated to release Wilson this offseason after benching the nine-time Pro Bowl quarterback for the final two weeks of the regular season. Wilson put his house on the market this winter in preparation for his release.
Wilson lost $3.5 million from his house investment.
According to Courtney Geers of the Denver Business Journal, Wilson lost $3.5 on his nearly two-year investment in his Denver-area home:
“The recently released quarterback lost millions of dollars when he sold the home he had owned for less than two years.”
Russell Wilson appears to be leaving Denver quickly, and he will lose $3.5 million.
The Broncos’ newly released quarterback has sold his Cherry Hills Village home for $21.5 million, according to property documents from March 20. That’s in comparison to the record $25 million he and his wife, singer-songwriter Ciara, spent for the mansion at 10 Cherry Hills Park Drive on April 1, 2022.
The Pittsburgh Steelers are not compensating him nearly as much as he lost.
Wilson’s new contract with the Steelers won’t be enough to compensate the loss. Wilson signed a one-year, veteran minimum contract with the Steelers worth $1.21 million. Fortunately for Wilson, the Broncos will pay him $39 million in the following season for the Super Bowl winner to throw footballs to George Pickens in 2024. That will more than cover Wilson’s loses from the move.
One has to wonder whether Wilson is thinking about buying a nice home near Pittsburgh after losing so much money in Colorado.
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