DENVER -- ESPN is reporting Tim Tebow has been traded to the New York Jets for fourth and sixth round draft picks.
The Broncos quarterback has been rumored to be traded since the team announced Monday they had officially signed future Hall-of-Fame quarterback Peyton Manning.
The Indianapolis Colts released Manning last week.
Tebow was drafted by the Broncos in the first round of the 2010 NFL Draft and took the team to the playoffs this season after replacing Kyle Orton halfway through the season.
Manning's contract with the Broncos is five years for a total of $96 million. He missed all of the 2011 season with a neck injury.