Recent reports said that Powell had interest from a number of teams including the Cowboys, Bills, Patriots, Broncos and Ravens.
However, it appears as though the Jets were able to get this deal done. Powell will share the backfield with newly signed RB Matt Forte.
Powell, 27, is a former fourth-round pick of the Jets back in 2011. He has spent his entire five-year NFL career in New York before testing the open market this year.
In 2015, Powell appeared in 11 games for the Jets and ran for 313 yards on 70 carries (4.5 YPC) to go along with 47 receptions for 388 yards receiving and three total touchdowns. Pro Football Focus has him rated as the No. 30 running back out of 69 qualifying players.
We had featured in our Top 2016 Free Agents list.