Jets Finalize Deal With Broncos For Tim Tebow
KREX News Room
DENVER- After hours of back and forth negotiation, the Denver Broncos and New York Jets agree on terms for quarterback Tim Tebow.
The Broncos will send Tebow and a seventh round pick in this year's NFL Draft in exchange for a fourth round and sixth round pick, also in this year's NFL Draft.
Slowing negotiations was a debate over the amount of $5 million which the Broncos paid to Tebow in bonuses. Denver wanted to recoup that money. However, the two sides ultimately decided to split the difference at $2.5 million to get the deal done.
Tebow will join Mark Sanchez in New York at the quarterback position. The former USC Trojan signed a three-year, $40.5 million contract extension two weeks ago.
All of this happened less than 24 hours after the Broncos signed Peyton Manning.