Russell Wilson won't play again this season for the Denver Broncos.
The stunning news that Wilson will be benched was reported by NFL Network Insider Ian Rapoport on Wednesday.
Jarrett Stidham will start at quarterback for Sunday's game against the Los Angeles Chargers.
The Broncos paid a hefty price to acquire Wilson last offseason, and the decision to bench the nine-time Pro Bowler is largely a financial one.
If Wilson were to suffer a significant long-term injury in the final two weeks of this season, he potentially could be owed $37million fully guaranteed if he doesn't pass a physical in early March.
In March of 2022, the Broncos sent multiple players and draft picks to the Seahawks in a trade for Wilson, who led Seattle to a Super Bowl championship following the 2013 season. The Broncos then signed him to a five-year extension worth more than $242million.
That deal is looking like one of the worst contracts in NFL history as Denver finished last in the AFC West last season with a 5-12 record and is on the verge of missing the play-offs for an eighth straight season.
The Broncos are coming off a devastating 26-23 loss to the lowly New England Patriots on Christmas Eve, and have now dropped three of four following a five-game winning streak. They are 7-8 and sit in 12th place in the AFC, and NFL.com gives them just a 7 per cent chance of making the play-offs.
Wilson, however, isn't responsible for all of the team's struggles this season, and has rebounded nicely after a disappointing first season in Denver.
After throwing 16 touchdowns and 11 interceptions and compiling a career-worst 84.4 QB rating in 2022, Wilson has 26 TDs and eight picks this year for a 98.0 rating - seventh best in the NFL.
His future with the Broncos is murky, however, as the offence has been largely mediocre, ranking 16th in scoring (21.8) and 25th in total yards (298.2).
Stidham has taken just four offensive snaps this season and has yet to attempt a pass. In 14 career games, he's thrown for 926 yards with six touchdowns and seven interceptions for a 73.5 rating.