NEW YORK (AP) - Just another crazy day for the New York Jets. Hours after the Jets announced they had agreed in principle to acquire Tim Tebow from the Denver Broncos, ESPN reported that the deal hit a snag.
Tebow Time on Broadway? Well, not quite yet.
Citing anonymous sources, ESPN says Wednesday that provisions in the quarterback’s contract are causing complications in the completion of the trade. ESPN says Tebow’s contract has $5 million worth of “recapture language,” which means the Jets would have to pay back some money to the Broncos.
The hang-up came hours after the Jets declared they were bringing the polarizing quarterback to New York as a complement to starter Mark Sanchez. Denver general manager Brian Xanders said the Broncos would receive fourth- and sixth-round draft picks, while New York would get a seventh-rounder _ all in 2012.
The Jets would have lots of explaining to do _ no matter whether the deal goes through or falls apart.
As part of Tebow’s $11.25 million, five-year contract he signed as a rookie in 2010, he had a $6.277 million advance due 29 days after the start of the 2011 league year. That money was paid to him in August after the NFL lockout ended. The trade hit the hang-up when the Jets apparently balked at repaying the Broncos more than $5 million for the 2012-14 seasons from that advance.
Tebow, who became expendable when the Broncos signed Peyton Manning to a five-year deal Tuesday, would be expected to complement Sanchez, who received a $40.5 million contract extension, with $20.5 million guaranteed, earlier this month. Rex Ryan’s Jets also had pursued Manning before bowing out on the sweepstakes when there was little interest by the four-time NFL MVP.
Tebow led the Broncos to the playoffs last season _ along the way beating Sanchez and the Jets, who missed the postseason. But Denver executive John Elway believed Manning gave the team a better chance at winning a championship now.
For the Jets, Tebow would add a versatile dimension to the offense, including running the team’s wildcat package _ something new offensive coordinator Tony Sparano enjoys using. He would also provide a solid presence in a locker room that was rife with infighting last season _ particularly between Sanchez and wide receiver Santonio Holmes.
He’d also bring with him a flock of fervent fans for reasons that have to do as much with his faith as his football skills. A devout Christian, he’s been a role model since his days at Florida, when he led the Gators to two national titles and captured the Heisman Trophy.
Several teams, including his hometown Jacksonville Jaguars, reportedly were interested in acquiring Tebow.
The Jaguars and general manager Gene Smith showed little interest in Tebow coming out of college in 2010, even though he grew up in Jacksonville and starred at nearby Florida. They passed on Tebow with the No. 10 pick, instead selecting defensive tackle Tyson Alualu. Tebow went to Denver at No. 25.View Entire Story
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