The Bucs reportedly offered Green Bay their fourth-round pick in 2010 and Chris Simms for Brett Favre before Favre was ultimately sent to the Jets.
Green Bay only would've gotten the pick if Favre played in Tampa for two years, so it's pretty clear why the Packers passed. The Jets' offer blew the Bucs' out of the water. Green Bay could still end up with Simms if he's cut.
Source: Milwaukee Journal-Sentinel

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