ORLANDO, Fla. -

Tim Tebow, whose stardom rose to national levels this past season as he led the Denver Broncos to nine wins and a playoff defeat of the Pittsburgh Steelers, is expected to be traded to either the Jacksonville Jaguars or the New York Jets by midday on Wednesday, a source close to Tebow told Channel 4's sister station, WKMG in Orlando.

Tebow, who lost his starting job this week when the Broncos signed Peyton Manning, is expected to be dealt for a third-round pick. Several national reports have the Miami Dolphins and Green Bay Packers in the running for Tebow, but the source informed WKMG on Tuesday night that the trade talks were exclusively down to the Jets or Jaguars. One of those teams could end up with the standout quarterback by Wednesday.

IMAGES: Tim Tebow's football career in photos

Tebow starred collegiately at the University of Florida and hails from Jacksonville, but the source said that the left-handed quarterback prefers playing time over a return to his hometown. Jaguars' new owner Shahid Khan ended trade negotiations with Tebow's representatives and the Broncos late Tuesday night, but those talks are expected to resume Wednesday morning.

"He's totally willing to go to whatever place will give him the best situation as far as playing next season,'' said the source, who requested anonymity.

Tebow has spent the offseason in Los Angeles while working on shortening and quickening his throwing motion with UCLA offensive coordinator Noel Mazzone. Tebow completed just 46.5 percent of his passes last season. He threw for 1,729 yards while tossing 12 touchdowns and six interceptions.