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Less than a day after trading for Brett Favre, the Jets have waived Chad Pennington, according to the team’s website.

Pennington is 32 years old and has too large of a contract for a backup quarterback, with a cap figure of $7.8 million.

Pennington has one of the weaker arms in the league, but he is an accurate, smart quarterback. His career completion percentage of 65.6 percent ranks No. 1 among players (all-time) with at least 1,500 attempts.

Within a week or so, Pennington should land with some team. There are plenty of teams that would like to upgrade their quarterbacking situations. The Vikings, Bears, Dolphins, Lions, Cowboys and Kansas City are all possibilities. Miami (Bill Parcells) and Kansas City (Herman Edwards) both have highly-placed football men who’ve worked with Pennington in the past.

To see the team release on Pennington, click here.

—Ian Allan

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