The Carolina Panthers have traded quarterback Teddy Bridgewater to the Denver Broncos in exchange for a sixth-round draft pick, a source confirmed to ESPN on 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 Schefter.
NFL Network was first to report the trade.