The news arrived while Jets players were on the team bus. Bridgewater got off, then waved his teammates goodbye as the two parties went their separate ways.
Bridgewater joined the Jets this past offseason. In March, he signed a one-year, $6 million deal that included $9 million in incentives after being released by the Minnesota Vikings at the end of last season.
Earlier this month, it was reported that at least two teams had expressed interest in acquiring Bridgewater's services.
Bridgewater, 25, was competing for the Jets' starting quarterback job with Josh McCown, who started 13 games for New York last season, and Sam Darnold, whom the Jets selected with the No. 3 pick in this year's draft.
Bridgewater's departure clears the way for Darnold to open the season as the Jets' starter. Bridgewater will serve as the Saints' backup behind perennial All-Pro signal-caller, Drew Brees.
The Jets close their preseason schedule against the Eagles on Thursday and they start their regular season on Monday, Sept. 10 on the road versus the Lions. New York head coach Todd Bowles recently told The MMQB that he would not name a starter until after New York's final preseason game.