Veteran quarterback Russell Wilson is out as the Denver Broncos quarterback after two seasons.

The team announced Monday that it will release Wilson when the new NFL league year begins on March 13.

Denver Broncos @Broncos

We've notified QB Russell Wilson that he will be released after the league year begins March 13.<br><br>A statement from GM George Paton and HC Sean Payton: <a href="">

Wilson's tenure in Denver began in the 2022 offseason when the Seattle Seahawks moved him in a blockbuster trade. What followed was two seasons of mediocrity and a messy departure.

Wilson threw for 3,524 yards, 16 touchdowns and 11 interceptions in 2022 before recording 3,070 passing yards, 26 touchdowns and eight interceptions last season. The Broncos failed to make the playoffs both years.

With Wilson on the way out, Denver will now take on $85 million of dead money over the next two seasons.

The end of the Wilson era in Denver sparked plenty of reaction from fans, many of whom called the trade and Wilson's contract the worst in NFL history.

Anand Nanduri @NanduriNFL

Largest dead cap hits in NFL history:<br>Russell Wilson ($85M)<br>Matt Ryan ($40.53M)<br>Aaron Rodgers ($40.31M)<br>Carson Wentz ($33.8M)<br>Russell Wilson, again ($26M)<br><br>To call this historic is an understatement. <a href="">

Andrew Brandt @AndrewBrandt

Broncos officially releasing Russell Wilson. <br>They were as all-in on him, between trade assets given up and contract, as any team was all-in on any player.<br>Now they're all-out.<br>$39M left over in cash.<br>$85M left over in Cap.<br>Will go down as one of worst contracts in NFL history.

Joel Moran @joelvmoran

Russell Wilson was so bad that the Broncos are willing to eat $85M in dead cap. Think about that. It's the worst contract in the history of the NFL.

Matt Verderame @MattVerderame

The Russell Wilson trade becomes one of the worst of all-time.<br><br>The Broncos gave Wilson a five-year, $245 million extension. He never played a down on it. <a href="">

Sam Monson @PFF_Sam

It's mind-blowing that Russell Wilson is getting cut the second his $245m extension kicks in.<br><br>Whatever about the trade, that's one of the worst contracts that's ever been done in NFL history.

Gregg Rosenthal @greggrosenthal

can make a case that the Russell Wilson trade was the worst in NFL history when all the assets/finances takent into account. But fear not, the Deshaun Watson trade will wind up worse!

Action Network @ActionNetworkHQ

The Broncos trade for Russell Wilson might go down as the worst in NFL history 😬 <a href="">

FanDuel @FanDuel

So ... who won the Russell Wilson trade? 😅<a href="">#Broncos</a> | <a href="">#Seahawks</a> | <a href="">#NFL</a> <a href="">

lindsey ok @lindseyyok

That Russell Wilson contract will go down as one of the worst of all time

Joe Rowles @JoRo_NFL

Since he was hired in 2021 George Paton has hired the worst head coach in Broncos history and blew up the team's cap and draft cache to trade for Russell Wilson.<br><br>He remains the GM.

JoeyBoatwater @JBoatwater

Wilson has the worst contract in NFL history and it isn't close <a href="">

Ari Meirov @MySportsUpdate

By releasing Russell Wilson, the <a href="">#Broncos</a> will take on an NFL record $85M in dead money. <br><br>For context: That's more than the last two dead money records **combined.** <a href="">

Billy "Arm Wrestled Travis Bagent" Riccette @Billy_Riccette

Largest dead cap hits in NFL history <br><br>1. Russell Wilson - $85 million <br>2 and 3 combined: Matt Ryan and Aaron Rodgers - $80.8 million

Andrew Siciliano @AndrewSiciliano

Broncos gave Seahawks:<br><br>2022 1st<br>2022 2nd<br>2022 5th<br>2023 1st<br>2023 2nd<br>Drew Lock<br>Noah Fant<br>Shelby Harris<br><br>for Russell Wilson and a 4th

The Wilson era is now over in Denver, and the Broncos will look to move forward despite the huge financial hit they took by releasing him.

Meanwhile, Wilson will now be looking to get picked up and prove himself again after a rocky tenure with the Broncos.