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.
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. He has a $17 million base salary for 2021 that includes a $10 million guarantee.
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.