Broncos president John Elway has announced the Mark Sanchez-trade via his Twitter account.
Acquired QB Mark Sanchez for a conditional '17 pick. He brings veteran leadership & will compete. This is the 1st step in our process.
— John Elway (@johnelway) March 11, 2016
- Adam Schefter reports that the Eagles get a conditional 2017 seventh-round pick in return for Sanchez.
This is not the quarterback trade everyone was expecting the Broncos to make after reports had them connected to 49ers QB Colin Kaepernick.
It will be interesting to see what the Broncos plan to do outside of just adding Sanchez. They could look to the draft for a long-term prospect to develop Sanchez or add a free agent to compete with him such as Robert Griffin III.
Sanchez, 29, is in the final year of his two-year, $9 million contract that includes $5.5 million guaranteed. He stands to make a base salary of $4.5 million for the 2016 season.
According to OverTheCap.com, releasing will free up $4.5 million in available cap space while creating $1 million in dead money.
In 2015, Sanchez appeared in four games for the Eagles and threw for 616 yards while completing 64.8 percent of his passes to go along with four touchdowns and four interceptions.