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(AP) -- Tim Tebow has been traded to the Jets.

The team said Wednesday it has acquired the polarizing quarterback from the Broncos. Denver general manager Brian Xanders says the Broncos will receive fourth- and sixth-round draft picks,while New York gets a seventh-rounder - all in 2012.

Denver started shopping Tebow after signing Peyton Manning.

Tebow is expected to complement starter Mark Sanchez, who received a $40.5 million contract extension, with $20.5 million guaranteed, earlier this month.

The Jets also had pursued Manning.

Tebow led the Broncos to the playoffs last season - along the way beating Sanchez and the Jets, who missed the postseason.

But Denver executive John Elway believed Manning gave the team a better chance at winning a championship now.

(Copyright ©2012 by The Associated Press. All Rights Reserved.)