The Carolina Panthers and Denver Broncos have agreed to a trade that could have major implications in the 2021 NFL Draft one day prior to the event.
NFL Network's Tom Pelissero reports the Panthers have traded former starting quarterback Teddy Bridgewater to the Broncos in exchange for the No. 191 overall pick in the sixth round of the 2021 NFL Draft.
The Panthers confirmed the trade in a news release on their official website shortly after it was reported.
Both teams will pay a portion of Bridgewater's 2021 compensation as part of a restructured contract as part of the deal, Pelissero reports.
ESPN's Adam Schefter reports the Panthers will pay $7 million, while the Broncos will pay $3 million, according to sources.
Additionally, sources told Schefter that the acquisition of Bridgewater "does not take Denver out of QB market Thursday night."
Bridgewater, a first-round pick by the Minnesota Vikings in 2014, joins a Broncos roster that already includes former 2019 second-round pick Drew Lock.
The move also reunites Bridgewater with new Broncos general manager George Paton, who served as the Vikings' assistant general manager and vice president of player personnel during the quarterback's time with the franchise.
Bridgewater holds a 26-23 overall record in 49 starts during six NFL seasons. The former Louisville standout earned a Pro Bowl appearance during his second season in Minnesota but experienced a career-threatening knee injury the following offseason.
Bridgewater was reactivated in 2017 but was limited to two passing attempts during his final season with the Vikings. The Miami native signed with the New York Jets before being traded to the New Orleans Saints in 2018 and excelled in the absence of injured Saints starter Drew Brees, winning in all five of his starts during the 2019 season.
The Panthers signed Bridgewater to a three-year, $63 million deal with $30 million guaranteed last offseason, but the team struggled through a 4-11 record during the quarterback's 15 appearances in 2020.