-- The Denver Broncos have agreed to trade four-time Pro Bowl offensive tackle Ryan Clady and a seventh-round pick in this year's NFL draft to the New York Jets for a fifth-round pick, league sources told ESPN on Saturday.
Clady arrived at the Jets complex Friday, underwent a physical and has been trying to reach agreement on a new deal, sources told ESPN.
The trade is not official yet, but expected to be in the next 1-2 days.
The Jets had targeted Clady last week after learning of Ferguson's plans. Talks began to heat up in recent days, but the two sides still had to work through contractual issues.
Clady is expected to sign a new contract with the Jets. He had two years, $19.5 million remaining on his previous contract, which he signed in 2013.
The Jets have close to $10 million in cap room after Ferguson's retirement, but his departure will create $9 million in space, some of which will be used for Clady.
The Clady-for-Ferguson swap was swift and dramatic. For 10 years, Ferguson manned left tackle for the Jets, never missing a game. He was one of the few constants for a franchise often in flux, and now he has been replaced.
Clady, 29, is three years younger than Ferguson, but he's injury prone. He has missed 30 of the last 48 games with foot and knee injuries. Clady tore his ACL last May 28 in offseason workouts, forcing him to watch the Broncos' entire Super Bowl season from the sideline.
He suffered a severe LisFranc injury in Week 3 of the 2013 season and was placed on season-ending injured reserve, missing the Broncos' run to the Super Bowl.
When healthy, the ultra-athletic Clady (6-foot-6, 315 pounds) is one of the best pass protectors in the league. The last of his four Pro Bowl selections came in 2014, and he's a two-time All-Pro selection.
Clady became expendable when the Broncos acquired tackles Russell Okung and Donald Stephenson this offseason. They put Clady on the trading block, hoping to recoup a draft pick while clearing his huge salary from the cap.
The Broncos talked with Clady's agent about restructuring his contract, but the discussions went nowhere and the defending Super Bowl champions responded by signing Okung.
ESPN Jets reporter Rich Cimini contributed to this report.