The Carolina Panthers have traded quarterback Teddy Bridgewater to the Denver Broncos in exchange for a sixth-round draft pick, it was announced Wednesday.
The Panthers will pay $7 million to Bridgewater, while the Broncos will pay him $3 million, a source told ESPN’s Adam Schefter.
“Acquiring Teddy Bridgewater adds competition, experience and a strong veteran presence to our quarterback room,” Broncos general manager George Paton said in a statement. “He’s a talented player and leader who’s had success in this league in a number of different situations. … He’s going to compete and do everything he can to help us win.”
The trade will not take the Broncos out of the market for a quarterback in Thursday’s NFL draft, a source told ESPN.
The Panthers had traded for former New York Jets starting quarterback Sam Darnold earlier this month.
Bridgewater, who signed a three-year, $63 million deal with the Panthers last season, threw for 3,733 yards last season, with 15 touchdowns and 11 interceptions. By renegotiating the final two years of Bridgewater’s deal, the Panthers will save $6 million in 2021 and $26 million in 2022, a source told ESPN’s David Newton.
He had plenty of opportunity to establish himself as the Panthers’ starter moving forward, but instead he saw his numbers go steadily down as the season concluded, and neither coach Matt Rhule nor GM Scott Fitterer would commit to him as the starter for the 2021 season.
Bridgewater had only one touchdown pass in the fourth quarter all season and was 0-8 in games in which the Panthers had a chance to win or tie on their last possession.
The Panthers had offered Bridgewater to the Detroit Lions earlier this offseason as part of a trade package for Matthew Stafford, who was eventually dealt to the Los Angeles Rams.
Carolina still has four quarterbacks — Darnold, Will Grier, P.J. Walker and Tommy Stevens – on its roster.
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