UPDATE: Head Coach Josh McDaniels will hold a press conference from the team's Dove Valley headquarters at 11 a.m. MDT today (Friday, April 3). DenverBroncos.com will have a live stream of the conference, and there will be a live blog as well.
The Denver Broncos have agreed in principle to trade quarterback Jay Cutler to the Chicago Bears. Terms of the deal will be disclosed at a later time.
It has been reported that the Broncos will receive a first-round pick in 2009, a third-round pick in 2009, a first-round pick in 2010 and quarterback Kyle Orton in return for Cutler and a fifth-round pick in 2009, though nothing has been officially announced.
In 33 career starts, Orton has compiled a record of 21-12, including a record of 15-2 in home games.
If the reports are correct, the Broncos will have the following picks in the upcoming NFL Draft:
1-18-18 Denver (from Chicago)
3-20-84 Denver (from Chicago)
7-26-235 Denver (from Atlanta)
It would also mean that over the next two NFL Drafts, the Broncos will have nine picks in the first three rounds.
Check back with DenverBroncos.com for updates.