What's next for Pennington?

As I'm sure you all know by now, Brett Favre is officially a Jet, which means that Chad Pennington probably soon won't be.

Before I speculate on where Pennington may soon be landing, here's the particulars on the Packers-Jets trade, as reported by the NFL Network's Adam Schefter. Green Bay will receive a conditional fourth-round draft choice in 2009 that will turn into a third if Favre participates in 50 percent of the Jets' plays this upcoming season. If the 38-year-old is involved in 70 percent of the plays and New York makes the playoffs, the Packers will get a second-round pick. And if the Jets somehow reach the Super Bowl and Favre takes 80 percent of the snaps, Green Bay gets next year's first-rounder from New York.

It's a relatively low-cost move for the Jets, who could potentially have an extra second-round selection next year as a result of the Jonathan Vilma trade to New Orleans. It's also a pretty clear signal that the team has serious reservations about third-year pro Kellen Clemens as its quarterback of the future. At the very least, having Favre around for a year or (maybe) two should help convince a few fans to dole out their life savings for the exorbitant PSL's the franchise will soon be charging to pay for its new stadium.

The deal certainly carries greater risk for Green Bay considering the unproven commodity that is Aaron Rodgers, but at least it gets Favre out of the NFC and more importantly -- out of the hands of the Minnesota Vikings.

It's widely believed that Pennington, who when healthy had served as the Jets' regular signal-caller from 2002 until being supplanted by Clements midway through last season, will receive his release -- perhaps as soon as this afternoon. The heady 32-year-old will surely be looking for an opportunity to start, although I'm not sure many teams will be craving an injury-prone guy with questionable arm strength who hasn't been the same player since undergoing two major shoulder surgeries a few years back.

The team probably most linked as Pennington's next destination is Kansas City, where Pennington would be reunited with former head coach Herm Edwards. The Chiefs could use an established vet to compete with youngsters Brodie Croyle and Tyler Thigpen, but keep in mind that KC is committed to a full-scale youth movement and still views Croyle as one of the centerpieces of those long-range plans.

Miami has been mentioned as a possible suitor as well, probably because Bill Parcells drafted Pennington while the Jets' GM back in 2000. The Dolphins do have some QB concerns, but I don't see that as a real good fit. Parcells likes his quarterbacks big and strong (i.e. Drew Bledsoe, Vinny Testaverde), and by all accounts Josh McCown has been pretty solid during camp as the caretaker until the Fish deem Chad Henne ready for action.

Here's an interesting thought: How about Chad Pennington as a New England Patriot?

Obviously, Pennington would have to swallow his pride as a backup in this scenario, but he's a far better insurance policy for Tom Brady than current understudies Matt Cassel and Matt Gutierrez. Plus he's got a strong connection with Randy Moss, Pennington's former teammate at Marshall who remains a good friend of the quarterback.

Finally, there's the revenge factor. It's hard to envision a better way for Pennington to stick it to his former employer than possibly winning a championship with his ex-club's most hated rival.

UPDATE (4 P.M. EST): The Jets have officially released Pennington to make room for Favre on the 80-man camp roster.