"It's a big relief to have this over," Stanton told The Associated Press. "I'm excited about the opportunity in Indy. I can't wait to get there and get down to business."
"(hash)Jets are a class organization for doing the right thing," Gilmore wrote. "I believe in my players and know what they can do. Glad it all worked out!"
"Drew is a big, athletic and strong armed quarterback that has the intangible package we are looking for at the position," said colts general manager Ryan Grigson. "He is a young, but seasoned quarterback that has won games in this league and we look forward to seeing him contribute to this team and our collective vision for the future."
New York also has Greg McElroy, the team's seventh-round draft pick last year, as the No. 3 quarterback.
AP Sports Writers Larry Lage in Detroit and Michael Marot in Indianapolis contributed to this report.