Sources: Patriots finalizing trade of QB Mac Jones to Jaguars

Schefter explains how the Mac Jones trade came to pass (2:35)

Adam Schefter joins "SportsCenter" to discuss the fallout from the Jaguars-Patriots trade, including what it could mean for New England's future at QB. (2:35)

FOXBOROUGH, Mass. -- The New England Patriots are finalizing a deal to trade quarterback Mac Jones to the Jacksonville Jaguars, league sources told ESPN's Adam Schefter on Sunday.

The Patriots will receive a 2024 sixth-round pick as compensation, sources told Schefter. The trade cannot be processed until the new league year begins Wednesday and Jones passes a physical.

New England owns the No. 3 pick in the NFL draft, where many around the league expect them to select one of the top-rated quarterbacks -- likely a decision between LSU's Jayden Daniels and North Carolina's Drake Maye.

Jones, who grew up in Jacksonville, joins his hometown team as a backup to Trevor Lawrence -- the first pick in the 2021 draft. Jones was selected 15th in the 2021 draft.

Jones is expected to compete with C.J. Beathard to be Lawrence's primary backup. Beathard is in the final year of a two-year, $4.5 million contract he signed before the 2023 season.

Beathard has started just one game in his three seasons in Jacksonville, completing 17 of 24 passes for 178 yards to lead the Jaguars to a 26-0 victory over the Carolina Panthers in Week 17 last season. That was the only win for the Jaguars in their final six games, as they finished 9-8 and failed to make the playoffs.

Lawrence had started every game of his NFL career until he missed Week 17 because of a right, throwing shoulder injury he suffered the week before in a loss at the Tampa Bay Buccaneers. Lawrence battled multiple injuries last season: a left knee sprain, an ankle sprain, a concussion and the shoulder injury. He wasn't a full participant in any practice over the last three weeks of the season.

Jones' three-year tenure with the Patriots began with promise, as he was selected to the Pro Bowl as an alternate in his rookie season. Jones started all 17 regular-season games as the Patriots went 10-7 and clinched a playoff berth (losing to the Buffalo Bills 47-17 in the wild-card round).

Jones was 352-of-521 for 3,801 yards with 22 touchdowns and 13 interceptions as a rookie, but his production dipped over the next two seasons. The departure of offensive coordinator Josh McDaniels to become the Las Vegas Raiders' head coach was the first of several changes -- both coaching- and personnel-wise -- that affected Jones' development.

In 2022, former Patriots coach Bill Belichick turned to longtime defensive coach Matt Patricia as the team's offensive playcaller, asking Patricia to implement his vision for the offense. Longtime special teams coach Joe Judge was named quarterbacks coach. The marriage with Patricia, Judge and Jones didn't produce the desired results, with Jones finishing 288-of-442 for 2,997 yards with 14 touchdowns and 11 interceptions. An early-season ankle injury also affected Jones, who acknowledged there were on-field decisions he could have handled better.

Belichick then hired former Patriots offensive coordinator Bill O'Brien to lead the offense in 2023, in hopes of getting Jones back on track, but it never came to fruition. Jones finished last season 224-of-345 for 2,120 yards with 10 touchdowns and 12 interceptions, with Belichick benching him after 11 games in favor of Bailey Zappe.

The Patriots currently have Zappe and second-year player Nathan Rourke on their quarterback depth chart.

The team had single selections in each round of the draft, so a sixth-round pick gives them an additional pick in that round and eight overall.

ESPN's Michael DiRocco contributed to this report.