9:10PM Per Danny O'Neil of the Seattle Times, the compensation for Wallace is believed to be a conditional pick in 2011. The OBR's Lane Adkins has heard anywhere from a 4th to a 6th... working to confirm.
8:45PM With the Eagles struggling to come to terms with trading QB Donovan McNabb, the Browns have turned in a different direction this evening, according to published reports.
Per the generally reliable Adam Schefter of ESPN, the Browns have traded for Seahawks QB Seneca Wallace. Heading into his eighth season after being selected in the 2003 draft, Wallace is a mobile passer familiar with Mike Holmgren's system, although at 5'11" is one of the shortest quarterbacks in the NFL. In addition to quarterbacking the Seahawks, Wallace has appeared at WR at times.
Over the last two seasons, Wallace has had a number of opportunities to show his capabilities as an NFL starter, as he has replaced the oft-injured Matt Hasselbeck in 2008 and 2009. Over his career, Wallace has passed for over 3,000 yards, with 25 touchdowns and 14 interceptions. Wallace also rushed for a touchdown last season.
Stay turned for more analysis and details throughout the evening on the OBR.