TRANSACTIONS (Contract history)
Mar 21 2012
Traded to New York (NYJ) from Denver (DEN) with a 2012 7th round pick for a 2012 4th round and 6th round pick
Jul 29 2010
Signed a 5 year $11.25 million contract with Denver (DEN)
Tim Tebow (Denver Broncos)
The Denver Post reports that the holdup in Wednesday's Tim Tebow trade to the Jets is a provision requiring New York to pay a "kick back" worth north of $5 million in order to acquire him.
The exact amount is $5,063,750, and per Tebow's language-heavy rookie contract, the Jets must pay the money to the Broncos for the trade to be finalized. We suspect there are ways for Denver to work around this, but for now it's a holdup. Per the Denver Post's Mike Klis, the Jets are understandably "balking" at paying the kick back, and "there is a decent chance this (trade) may die."
ESPN's Adam Schefter reports that the NFL has encountered "hangup language" that could nullify the Jets' trade for Tim Tebow.
Schefter doesn't have finite details, but the deal has not been approved by the NFL. Per Schefter, the Rams "could wind up getting back into play" if the trade is nixed. The Jaguars and Packers also had interest in Tebow. Stay tuned.