By Anthony Caruso III | Publisher
The New York Jets have acquired quarterback Tim Tebow. Plus, they also received a 2012 seventh-round draft pick in this deal.
In exchange, the Denver Broncos will receive a fourth-round draft pick and a sixth-round draft pick in the 2012 NFL Draft.
ESPN is reporting that Tebow chose the Jets over the Jacksonville Jaguars. Tebow went to Nease High School in the Jacksonville, Florida area.
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The Jets also reportedly offered better picks than any other team, according to a Denver TV station. The teams also reportedly agreed to the $5 million, which could have halted the deal.
The $5 million is due to the offsetting language in Tebow’s contract. The Jets agreed to send $2.53 million back to the Broncos.
“Tim Tebow deserves an enormous amount of credit for what he accomplished and how he carried himself during his time with the Broncos,” Broncos executive vice president of football operations John Elway said in a statement released by the team. “From taking over a 1-4 team and leading it to the playoffs to energizing our fans and this community, Tim left an extraordinary mark on this organization. His time in Denver will always hold a special place in Broncos history.
“Our goal was to do the best thing for Tim and the Broncos, and I believe the opportunity that presented itself with the New York Jets accomplishes that objective. Tim made a lot of strides last year and has a very promising career ahead of him. If anyone is willing to put the work in to be great, it’s Tim Tebow.”
Tebow became expendable with the Broncos signing future Hall of Famer Peyton Manning. Now, with this deal, the former College Football star will compete with Mark Sanchez for the starting job.
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Sanchez received a multi-year contract extension earlier this month. He received $20.5 million guaranteed with a potential payout of $40.5 million.
After being drafted by the Broncos, Tebow signed a five-year, $11.25 million deal during the 2010 season. NFL.com is reporting that Tebow had $6.277 million sent to him 29 days after the new league year.
However, due to the NFL lockout, Tebow received the money in August. He will make $1.1 million this upcoming season.
Tebow has a $6.055 million base salary in 2013. The following year, he has a $7.145 million base salary.
“Earlier this week, I asked Gene Smith and his staff to explore the potential of acquiring Tim Tebow,” Jaguars owner Shahid Khan said in a statement released by the team. “I think we have a duty to consider all avenues of improving the Jaguars on and off the field, especially given the unique circumstances involving the player. I appreciate the high level of due diligence Gene and his staff dedicated to this matter even as late as this evening, and I am very satisfied with the outcome.
“Our commitment to developing Blaine Gabbert was, and still is, central to our goal of returning the Jaguars to elite status in the NFL. We’re looking ahead with zero regrets.”
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