The Circus Moves To New York

According to ESPN.com, the Green Bay Packers have reportedly sent Brett Favre to the New York Jets for an undisclosed draft pick.

Jay Glazer of Fox Sports believes that the compensation is a single draft pick. The value of that pick will depend on Favre's output in New Jersey.

This also means that the more-expensive Chad Pennington will, probably, be released to create the much-needed cap space to fit Number 4 ((replica jersey pictured... pick it up hyah)) under the Jets number.

SI.com's Peter King reported earlier on Wednesday evening that the Jets offered a solid third-round pick that could bump to a first-round pick depending on how well the Jets and Favre play this year.

The NFL Network reports the dynamics of the draft pick to be this convoluted formula:

It's currently a fourth-round pick.
If Favre plays 50-percent of the snaps on offense, the pick turns in to a 2009 3rd-rounder.
If Favre plays 70-percent of the snaps on offense and the team makes the playoffs, the pick turns in to a 2nd-rounder.
If Favre plays 80-percent of the snaps on offense, and the team makes the Super Bowl, the pick turns in to a 1st-rounder.

There will be a test on this later...

Packers President/CEO Mark Murphy and EVP/GM Ted Thompson sent out a joint statement.

Here's the middle paragraph:

"We respect Brett's decision that he could no longer remain here as a Packer. But there were certain things we were not willing to do because they were not in the best interest of the team. We were not going to release him nor trade him to a team within the division. When Brett ultimately decided that he still wanted to play football, but not in Green Bay, we told him that we would work to find the best solution for all parties involved. We wish Brett and his family well."

The New York Jets version through Randy Lange relaying Chairman/CEO Woody Johnson's thoughts goes a little something like this:

"I am looking forward to seeing Brett Favre in a New York Jets uniform. He represents a significant addition to this franchise, and reflects our commitment to putting the best possible product on the field. Mike Tannenbaum and his football administration staff did a great job of navigating this complex process. I am excited about welcoming Brett, Deanna and their family to the Jets organization."

Reaction from Green Bay from the Press-Gazette is hyah

The New York Post reacts hyah

UPDATE: Larry Hardesty, Jets beat reporter of ESPNRadio 1050 in New York City, reports that a decision should be made on Chad Pennington by 4PM Thursday afternoon. A team in the "AFC West" seems to be interested in Pennington... see the Kansas City Chiefs. Hardesty also thinks that Favre will be around for one year, and the Jets after that year, will review the situation.