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Bears trade Greg Olsen for pick

Updated: July 29, 2011, 12:34 AM ET
By Michael Wright | ESPNChicago.com

The Chicago Bears traded tight end Greg Olsen to the Carolina Panthers on Thursday. In return, the Bears will receive a third-round pick in the 2012 draft, according to a league source.

Olsen agreed to a four-year, $24 million extension with $10 million guaranteed, an NFL source told ESPNChicago.com's Jeff Dickerson.

"I think it's bittersweet," Olsen told "Chicago's Gamenight" on Thursday. "I've made it clear since the day I got here that I've really enjoyed my time ...

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