CHARLOTTE, N.C. (WSPA) – The Carolina Panthers have traded for former Cleveland Browns quarterback and number one overall draft pick Baker Mayfield, the team announced Wednesday afternoon.

The deal, which is pending a physical, has Carolina sending a condition 2024 fifth-round pick to the Browns.

NFL Network’s Ian Rapoport reported both teams will split the financials related to Mayfield’s current contract.

The news comes after the Browns traded for former Clemson Tiger Deshaun Watson earlier this year, and with the Panthers remaining in the hunt for the next franchise quarterback.

Mayfield was the first pick in the 2018 NFL Draft and had a 29-30 record in four seasons with Cleveland. During those seasons he totaled 14,125 yards passing with 92 touchdowns to 56 interceptions, completing 61.6% of his passes.

He joins Sam Darnold, P.J. Walker and rookie Matt Corral among the quarterbacks on the depth chart.