Brett Favre is no longer the quarterback of the Green Bay Packers. The 38 year-old future Hall of Famer was traded to the New York Jets for a conditional 2009 draft pick.

It was first reported by both ESPN and Fox Sports just after midnight on the East coast.

“We just felt like this was an opportunity to go get somebody of Brett’s stature and what he’s accomplished,” Jets general manager Mike Tannenbaum said during a conference call earlier this morning.

“We felt it was in the best interest of the team and when the opportunity presented itself, we felt it was the right move for us to make and we went ahead and did it.”

When it became apparent Favre would not be the man in Green Bay with the Packers opting to hand the reigns over to Aaron Rodgers, the Jets and Bucs were the final two teams in the running to land the NFL’s all-time leader in throwing touchdowns (442). Tampa dropped out making Gang Green’s destiny of landing the former Southern Miss star likely.

Favre was originally selected by the Falcons in the second round of the 1991 Draft. He only played in two games going 0-for-5 with two picks and a sack before Atlanta dealt him during the offseason to Green Bay for the 19th pick in the 1992 Draft in which they ironically selected another Southern Miss star Tony Smith, who lasted only three seasons. Perhaps that explains the Falcons legacy.

More at Hitting Back

Chad Pennington was officially released by the Jets today and announced it just now.

New York Jets Release QB Chad Pennington

August 7, 2008 — The New York Jets have released QB Chad Pennington. The announcement was made by Jets General Manager Mike Tannenbaum.

“I appreciate everything Chad Pennington has given to the Jets organization,” Jets Chairman and CEO Woody Johnson said.  “He was a part of my first draft as an owner in 2000 and has exemplified nothing but class both on and off the field. I wish him, Robin, Luke and Cole my very best.”

“I have all the respect in the world for Chad as a person and a player,” said Tannenbaum. “We have accomplished a lot of great things with Chad, including winning playoff games, which is very hard to do. He gave his heart and soul to this organization for a long, long time. I really appreciate everything he has done.”

Pennington (6-3, 225/Marshall/Knoxville, TN), the 18^th-overall selection in the 2000 NFL Draft, finished his eight-year Jets career 32-29 as a starter. He ranks number one all-time in NFL history for completion percentage (65.6 percent, 1,259-1,919). In Jets history, Pennington is first in all-time completion percentage and passer rating (88.9), and fourth in Jets history in career passing yards (13,738), touchdowns (82), attempts and completions. He led the Jets to the postseason three times, 2002, 2004 and 2006, winning two playoff games.

On Aug. 6, 2008, the New York Jets were an irrelevant team. Coming off a 4-12 season, Gang Green was in a precarious position competing with the Super Bowl champs in their same market while both baseball teams get the back pages during their offseason, when the hot stove league gets fired up. Let’s not forget the Knicks will also command some attention with Mike D’Antoni taking over that franchise. So, even with a good start, the Jets were bound for the land of hockey and the Nets in the competitive New York media market. And with no new major skill players coming on board for the season, it was going to be a silent season for the club, even if they improved on the four win record.

«FULL STORY»

In a stunning turn of events, the Jets acquired Brett Favre for a fourth round pick, which could become a two depending on how the team does.

Here’s the release:

Jets acquire QB Brett Favre from Green Bay

August 7, 2008 — The New York Jets have acquired QB Brett Favre from the Green Bay Packers. The announcement was made by Jets General Manager Mike Tannenbaum.

“I am looking forward to seeing Brett Favre in a New York Jets uniform,” said Jets Chairman & CEO Woody Johnson. “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.”

Favre (6-2/222/Southern Miss/Kiln, MS), a veteran of 17 NFL seasons, the last 16 in Green Bay, is the league’s all-time leader in touchdowns passes (442), completions (5,377), attempts (8,758), yards (61,655) and victories as a quarterback (160). Since Sept. 20, 1992, he has started 253 consecutive regular season contests (275 including postseason), leading the Packers to a record of 160-93 (.632).  During his 16 seasons in Green Bay, Favre has quarterbacked the Packers to 11 postseason appearances, seven division titles, four NFC Championship games and two Super Bowls, including a victory in Super Bowl XXXI. A three-time Associated Press Most Valuable Player (1995, 1996, 1997), he threw for 4,155 yards and 28 touchdowns in 2007, completing a career-high 66.5 percent of his passes. The 2007 campaign marked his fifth season with more than 4,000 passing yards as the Packers finished second in the NFL in total offense. The former Southern Miss signal-caller has logged 40 fourth-quarter comebacks, eight seasons with 30 or more touchdowns and 55 300-yard passing games. Favre was drafted by the Atlanta Falcons in the second round of the 1991 NFL Draft (33rd overall) and acquired by the Packers on Feb. 10, 1992 for the 17th overall pick in the 1992 NFL Draft. The Falcons traded that pick to Dallas, who selected CB Kevin Smith (Texas A&M).

J-E-T-S