The newspaper, citing three league sources, said three or four teams are believed to be interested in Lloyd and that the Broncos are seeking a third- to fifth-round draft pick in return in talks. The Carolina Panthers and Tennessee Titans reportedly are among the interested teams.
Several factors have prompted the trade possibility, according to the sources, but chief among them is that Lloyd will be a free agent after the season and he and the Broncos aren't believed to be close to a deal.
The Broncos also will regain wide receivers Demaryius Thomas and Eddie Royal from injury after this week's bye. In addition, Denver is expected to become more of a ball-control, run-oriented offense with Tim Tebow replacing Kyle Orton at quarterback.
Lloyd, 30, is being paid $1.395 million this season, a bargain for a receiver who led the league last season with 1,448 yards. He had 77 catches and scored 11 touchdowns.
Lloyd has 19 catches for 283 yards and no touchdowns this season.