According to FOX Sports:

FOXSports.com has learned the man cut by the Jets to make room for Brett Favre has agreed to a two-year deal, worth $11.5 million, Friday with the Miami Dolphins.

Well, it looks like we will see how this plays out pretty quickly.

I'm hoping that the winner of McCown and Pennington starts and the other gets cut, letting the younger guys learn a year or so then battle it out.  I think there is still a lot of potential with Beck.  I know thats not the popular thought, but he has a good arm and I think he can turn it around and figure it out.

[Editor's Note by Matty I]  I've edited this for front-page posting.  My personal opinion is that this was way too much money to give Pennington.  I mean, $11.5 million?  Really?  It'll be interesting to see how this plays out.  I'd bet this ends McCown's run in Miami before it ever started.  But that's just me guessing.  I'm going to look up McCown's contract info and see if that tells us anything. [end note]

[Editor's Note #2 by Matty I] McCown's contract was a 2 year deal and included $2.5 million in guaranteed money.  So cutting him would only cost the Fins $2.5 million, which the Dolphins could easily cut ties with Josh and put that $2.5 million against their 2008 cap, not hindering the Dolphins at all for next offseason. [end note]