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Denver trades WR Brandon Lloyd to St. Louis

GREEN BAY, WI - OCTOBER 2: Brandon Lloyd #84 of the Denver Broncos makes a catch while being covered by Tramon Williams #38 of the Green Bay Packers at Lambeau Field on October 2, 2011 in Green Bay, Wisconsin. (Photo by Matt Ludtke /Getty Images)
Matt Ludtke/Getty Images
GREEN BAY, WI - OCTOBER 2: Brandon Lloyd #84 of the Denver Broncos makes a catch while being covered by Tramon Williams #38 of the Green Bay Packers at Lambeau Field on October 2, 2011 in Green Bay, Wisconsin. (Photo by Matt Ludtke /Getty Images)
Brandon Lloyd has caught his last pass as a Bronco
Matt Ludtke/Getty Images

(CBS/AP) - On the day of the NFL trade deadline, the Denver Broncos have traded away wide receiver Brandon Lloyd. The 2010 Pro Bowler is headed to St. Louis for a conditional 2012 draft pick.

Rumors of a possible Lloyd trade had been making the rounds since last week, the same day Tim Tebow was announced as the new starting quarterback for the Broncos. Lloyd is in the last year of a deal that pays him around $1.4 million, a bargain for a player who led the league with 1,448 yards receiving last year, when he caught 77 passes, 11 of them for touchdowns.

It was considered unlikely that the Broncos would be willing to sign Lloyd to a big time deal, especially with the untested Tebow behind center, which suggests the Broncos will be a run-heavy offense for the near future.

The Rams, for their part, needed another downfield threat for a banged-up offense led by Sam Bradford, and Lloyd will reunite with former Broncos coach Josh McDanials, now the Rams' offensive coordinator.

St. Louis is giving up a draft pick in the deal, but which round that pick comes from is to be seen. Reports have the Rams giving up a sixth round pick, possibly moving up to the fifth round if Lloyd makes over 30 catches.