Northcutt was informed during the week he was going to be traded. The Lions showed interest but didn't want to give up a draft choice. Once they talked to the Jaguars, the Lions decided to offer Alexander in a straight player-for-player deal.
The trade was agreed to on Friday and is expected to be finalized next week. The irony of the trade is that Northcutt and Alexander are represented by the same agent, Jerome Stanley, who was surprised to find out Alexander was involved in the trade.
Northcutt was the most productive remaining wide receiver on the Jaguars. Northcutt caught 44 passes for 545 yards last season in Jacksonville. Also gone from the Jaguars receiving corps are Matt Jones and Reggie Williams.
The 31-year-old Northcutt will be joining his third team. He has been with the Browns and Jaguars.
Alexander, 24, is entering his third season. He started 16 games in 2007 but only started one game last season.
Senior writer John Clayton covers the NFL for ESPN.com.