Paxton Lynch to Broncos: Trade Details, Twitter Reaction in 2016 NFL Draft

The Denver Broncos' search for a new quarterback is over. The reigning Super Bowl champions traded up to the 26th overall pick to select former Memphis Tigers signal-caller Paxton Lynch in the 2016 NFL draft Thursday night.

Denver originally owned the last pick of the first round but sent its first- and third-round picks to the Seattle Seahawks to move up, per Broncos vice president of public relations Patrick Smyth.

Jerry Jones confirmed to ESPN.com's Todd Archer that the Dallas Cowboys were interested in moving up for Lynch as well.

Denver already added Mark Sanchez in the offseason, so NFL Network's James Palmer sees Lynch taking a back seat in 2016:

USA Today's Lindsay Jones believes the former Tigers star is the perfect QB for the Broncos:

The Ringer also thinks Lynch is a nice fit for Denver's offense:

Here's the rest of the best social media reactions to his selection:

It's no secret the team has been pursuing every avenue to replace Peyton Manning, who retired after the season ended, and Brock Osweiler, who signed with the Houston Texans.

ESPN's Adam Schefter (via ESPN.com) reported the Broncos pulled out of trade talks with the Philadelphia Eagles over Sam Bradford, while the Denver Post's Troy E. Renck noted San Francisco 49ers quarterback Colin Kaepernick remained an option.

While Lynch isn't as experienced as either Bradford or Kaepernick, he'll be cheaper. Bradford just signed a two-year, $36 million extension with the Eagles, per Schefter, and Kaepernick is only in the second year of a six-year, $114 million extension, per Pro Football Talk's Mike Florio.

Maintaining a healthy amount of salary cap space will be critical for general manager John Elway as he looks to keep the core of the title-winning team together in the years ahead.

Lynch is still a work in progress, which is why the Broncos will be such a good place for him. Denver's defense is strong, and Sanchez can be the stopgap starter until Lynch is ready.