With the NFL trade deadline looming, the Broncos have been in talks with other teams regarding Pro Bowl receiver Brandon Lloyd, according to three NFL sources.

The Broncos are believed to be seeking anywhere from a third- to fifth- round draft pick in return. There have been “three or four” teams who have expressed interest in Lloyd, according to a source, with Carolina and Tennessee among them.

The NFL trading deadline is Tuesday. Once that deadline passes, a team cannot trade a player under contract until the 2012 offseason opens in March.

That the Broncos are listening to offers for Lloyd doesn’t mean they will deal him. Unlike baseball, in which the July 31 deadline spurs a fury of deals, the NFL deadline doesn’t produce much activity. One reason is every team has its offensive or defensive system and own playbooks. The feeling is it takes a new player a few weeks to adapt to his new system.

Three or four teams, including Tennessee and Carolina, have expressed interest in Lloyd, according to a source. The Broncos are hoping for a third- to fifth-round draft pick in return.

Trade talks are not expected to pick until after this week’s games Sunday and Monday are played.

Multiple factors have pushed Lloyd to the trading block, according to the sources.

One, he is a free agent after this season, and although the Broncos and Lloyd have briefly discussed a contract extension, nothing is close to materializing.

Two, the Broncos’ receiving corps is about to get crowded after this weekend’s bye with the return of Demaryius Thomas and Eddie Royal. Lloyd, 30, has been starting at receiver alongside Eric Decker, a third-round pick in the 2010 draft.

Additionally, the Broncos are expected to shift to a more ball-control, run-oriented offense with Tim Tebow taking over at quarterback following the demotion of Kyle Orton.

Lloyd is making $1.395 million this year, well below market value for a receiver who led the NFL last season with 1,448 yards. He had 11 touchdowns among his 77 catches.

The Broncos (1-4) next play Oct. 23 at Miami. Thomas, who has been out all season with Achilles tendon and broken finger injuries, was a first-round pick in the 2010 draft. Royal was a second-round pick in the 2008 draft. Royal, who has missed the past three games with a strained groin, also is eligible for free agency at season’s end.

Lloyd was a free-agent pickup three seasons ago after playing previously with San Francisco, Washington and Chicago.

Neither the Broncos or Lloyd would comment on the trade talks.

Lloyd’s receiving numbers are down this season — 19 catches for a team-high 283 yards and no touchdowns. He missed one game with a groin strain.

A season ago, Lloyd had a breakout year, making his first Pro Bowl and becoming the first Bronco to lead the NFL in receiving yards. He also led the league with 18 receptions of 25 yards or longer while posting the third-highest receiving average (18.8) since 1970.

Lloyd started 47 career games in six seasons with Chicago (2008), Washington (2006-07) and San Francisco (2003-05) before coming to Denver.

Mike Klis: 303-954-1055 or mklis@denverpost.com