The Cleveland Browns are trading Baker Mayfield to the Carolina Panthers for a 2024 conditional fifth-round pick (which can become a fourth-round selection), according to a report.

Cleveland used the No. 1 overall pick on Mayfield in 2018.

Mayfield agreed to trim $3.5 million off his base salary to facilitate the trade, which will see the Browns pay the quarterback $10.5 million and Panthers roughly $5 million.

The trade clears about $8 million off the Browns' cap sheet.