The last remaining hurdle in the Tarvaris Jackson trade is reportedly complete: John Wawrow of The Associated Press reports that Jackson and the Buffalo Bills agreed to a re-structured contract early Monday, and that Jackson is currently en route to Orchard Park. The Bills and Seattle Seahawks still have not formally announced the trade, which was widely reported last night.
Financial parameters of the deal are not yet known. Jackson was scheduled to make $4 million with the Seahawks this season, but had previously expressed a willingness to take a pay cut to help facilitate a trade. How much money Jackson will make this season - and how long the re-structured deal is for (he was only under contract in Seattle through the end of the 2012 season) - remains to be seen.
Various reports indicate that the Bills traded a seventh-round pick to Seattle for Jackson's services, and that the pick will become a sixth-rounder if Jackson is on the team's active roster for six games in 2012. It's looking like the Bills will be formally announcing their new backup quarterback by the end of the day.