The Green Bay Packers have reached an agreement to trade quarterback and three-time NFL most valuable player Brett Favre to the
New York Jets.

The deal ends Favre's 16-year career with the Packers. Jets general manager Mike Tannenbaum said there would be another transaction regarding quarterback Chad Pennington, who spent his first eight seasons with New York.

The New York Jets plan to introduce Brett Favre when they hold a news conference in Cleveland prior to tonight's preseason game against the Browns.

The Jets acquired the three-time NFL most valuable player from Green Bay last night, completing an ugly split between Favre and the Packers. Green Bay had been talking with the Jets and Tampa Bay Buccaneers since deciding earlier this week that they could no longer coexist with Favre.

According to NFL.com, the Packers will receive a fourth-round draft pick in 2009, or a third-rounder if Favre plays in 50 percent of the plays this season. The pick becomes a second-rounder if he plays in 70 percent and the Jets make the playoffs. Should the Jets make it to the Super Bowl and Favre takes 80 percent of the snaps, the Packers would get a first-round pick.