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DENVER (KDVR) — The Carolina Panthers are trading quarterback Teddy Bridgewater to the Broncos for a sixth round draft pick.

The trade, which was first reported by ESPN’s Adam Schefter, sees the Panthers paying Bridgewater $7 million and the Broncos are paying him $3 million.

The trade comes one day before the NFL Draft.

One of the biggest questions heading into next season is what the team will decide to do with the starting quarterback position. Denver Broncos General Manager George Paton says he’s approaching it with an open mind.

“We’re really high on Drew (Lock). I like seeing Drew here every morning when I come in. He’s working hard, he’s trending in the right direction, but we’re going to look at the quarterback position,” Paton said. “What we don’t want to do is force it and bring a guy in and overpay a guy to come in and maybe he’s not as good as the guy we have.”

“We still have time. There’s a trade market and we have the draft and the landscape may change after the draft,” Paton said. “We’re being patient.”