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In the process, the Seahawks are also losing their biggest advantage over the NFL - flexibility.
As SI's Peter King broke down, the Seahawks are paying 10 players a combined $97 million in average annual salary through 2017.
In addition to Wilson and Wagner's impending eight-figure extensions, the Seahawks also took on Jimmy Graham's $8 million salary this offseason and gave Marshawn Lynch a three-year, $31 million extension. Add this to the contracts for Richard Sherman, Michael Bennett, Cliff Avril, and Earl Thomas, and the Seahawks have an elite, pricey core.
The Seahawks drafted well in recent years and have had the advantage of holding onto talented players on cheap rookie deals while spending their money on veterans, free agents, and players due for extensions.
Now, however, the Seahawks don't have money left to spend on keeping other young players. According to Travis Pittman of King 5 News, the Seahawks are currently $5.4 million under the salary cap. However, next season when Wilson and Wagner's cap hits jump with their new extensions, that cap space virtually dries up, even if the salary cap rises.
This is a problem for the Seahawks and their other young players hitting free agency. As Pittman notes, with players like J.R. Sweezy, Russell Okung, and Brandon Mebane hitting free agency next summer, the Seahawks lack the resources to keep them around.
To sign Wagner, the Seahawks had to release Tony McDaniel. In May, perhaps with knowledge that they wanted to extend Wilson and Wagner, they did not pick up the fifth-year option on Bruce Irvin, who has said he wants his money, too:
Yall crazy if u think I'm not gon go get mines! Ain't no fun if the homies can't get none!
- Bruce Irvin (@BIrvin_WVU11) August 2, 2015
This is an okay situation for Seattle - they have 10 great players locked up for the foreseeable future. However, given their lack of flexibility going forward, this could be the best iteration of the Seahawks that we see before they have to make the inevitable decision of who to keep and who to let go.