GREEN BAY, Wis. — The Green Bay Packers are trading wide receiver Davante Adams to the Las Vegas Raiders, the Packers announced Friday in a press release. 

In exchange, the Packers will receive the Raiders' first round draft pick (number 22 overall) and second round draft pick (number 53 overall). 

“It’s never easy moving on from a player and person the caliber of Davante Adams. We have so much respect for all that Davante gave on and off the field during his eight seasons in Green Bay as he was integral to all that we’ve accomplished,” said Brian Gutekunst, the team's general manager. “He is undoubtedly one of the greatest players in the storied history of the Packers and we look forward to him being enshrined into the Packers Hall of Fame one day. We wish nothing but the best for Davante, his wife Devanne and the rest of their family moving forward.”

The news comes after the Packers signed quarterback Aaron Rodgers to a contract extension on Tuesday, and last week’s reports that the team placed a franchise tag on Adams.

The Raiders, according to reports, are signing Adams to a five-year contract for over 141 million dollars. He will be the highest paid receiver in the NFL. 

Reportedly, Adams said he wouldn't play for the $20 million tag and wanted a long-term deal. According to reports, the Packers offered to match the Raiders' contract, but Adams opted for a fresh start. 

Adams will be reunited with Derek Carr. Adams and the quarterback played together at Fresno State in their college years. 

Adams has broken multiple Packers receiving records; the team drafted him in 2014. He's started 109 out of 116 games he's played for Green Bay over the course of 8 seasons.

Adams is the only player in the NFL with 115-plus catches, 1,350-plus receiving yards and 11-plus receiving touchdowns in back-to-back seasons. He set single-season records with 123 receptions and 1,553 receiving yards. He's also the first Packer in history with three 100-catch seasons. Adams 

This is a developing story. Check back for updates.​