Tim Tebow was set to be traded to the New York Jets after the Broncos signed Peyton Manning. However, a snag in the trade requirements has put the trade on hold.
Tim Tebow, the Denver Broncos quarterback who led them to the playoffs last year, was set to become a New York Jet. However, there are reports that complications in the trade's details may put the transaction on hold.
Tebow was put on the trading block after the Denver Broncos signed former Indianapolis Colts quarterback and Super bowl MVP Peyton Manning to a 5-year, $96 million deal.
Tebow and a 7th-round pick were to be traded for the Jets' 4th and 6th-round picks. However, Tebow's current salary would require the Jets back more than $5 million in guaranteed salary payments that were disbursed to him by the Broncos after the NFL lockout.
The Jets originally thought they would be paying back $3 million but instead are looking at an $8 million deficit for someone who is set to be a backup quarterback to starter Mark Sanchez. The Jets may not accept the deal under these conditions. Any other team wishing to trade for Tim Tebow would also face a $5 million hit on their salary caps.
Last season, Tebow became the Broncos' starting quarterback after Kyle Orton went 1-4. The Tebow-led Broncos went on to finish 8-8, make the playoffs, and beat the Pittsburgh Steelers in the first round. They lost to the New England Patriots, who went on to win the Super bowl, in the following game. In 14 games, Tebow threw for 12 touchdowns, six interceptions and 1,729 yards. The Jets sometimes use a Wildcat formation that features plays where the quarterback acts as a running back. This favors Tim Tebow's skill set. Tebow ran for 660 yards and six touchdowns.
Ironically, Tebow's record in the first five starts were statistically superior to the Broncos Hall of Fame quarterback John Elway, who now serves as their general manager and orchestrated Manning's acquisition as well as Tebow's trade.