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."
The trade will not take the Broncos, who have the No.