He's getting screwed by the Broncos ... but Tim Tebow can still count on one of his employers to cover his ass -- his underwear sponsor.
Though it's unclear where Tebow will end up after the whole Peyton Manning shake-up ... the people at Jockey tell TMZ they will stick with their spokesman no matter what.
A Jockey rep says, "Jockey brought Tim Tebow on as a spokesperson before he took his first professional snap and even before he finalized his contract with an NFL team. Jockey supports him 100% and we look forward to continuing our great relationship with Tim."
Finally, support where it counts.