The Panthers traded quarterback Teddy Bridgewater to the Broncos for a sixth-round pick, the team announced Wednesday.
“Acquiring Teddy Bridgewater adds competition, experience and a strong veteran presence to our quarterback room," Broncos GM George Paton said in a statement.
Carolina will be paying the 28-year-old $7 million in 2021 while Denver will pay him $3 million, according ESPN's Adam Schefter. Wednesday's trade will not exclude the Broncos from the quarterback market during Thursday night's draft, per Schefter.
The Panthers reportedly gave Bridgewater the green light to facilitate a trade after they acquired Sam Darnold at the beginning of April,, according to NFL Network's Ian Rapoport. Carolina gave up a sixth-round pick in the 2021 NFL draft along with second-round and fourth-round picks in 2022 in exchange for Darnold.
The Panthers signed Bridgewater to a three-year contract worth $63 million before the 2020 season. Bridgewater was reportedly guaranteed $40 million in the first two seasons of the deal, but Wednesday's trade eliminates the final year and $21 million of his contract in 2022, per 9News Denver's Mike Klis.
Sports Illustrated's Albert Breer reported that Bridgewater agreed to a paycut from $17 million to $11.5 million. In turn, the Panthers save $3 million off of Bridgewater's guarantee, and he will keep $1.5 million of his non-guaranteed money.
Bridgewater started 15 games for Carolina last season, throwing for 3,733 yards with 15 touchdowns and 11 interceptions. The Panthers went 4–11 in games he started.
The Panthers now have eight picks in the 2021 NFL Draft following the Bridgewater trade, including the No. 8 pick.
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