After reports surfaced that the Denver Broncos gave Tim Tebow the chance to choose between the Jacksonville Jaguars and New York Jets, ESPN's Adam Schefter reports that Tebow has apparently chosen the Jets.
The deal that was reported earlier Wednesday still stands, but here's a reminder of what the Jets are giving up:
Denver has agreed to trade Tim Tebow and a seventh-round pick to the Jets for the NY's fourth-round pick and a sixth-round pick.— Adam Schefter (@AdamSchefter) March 22, 2012
The hang-up that threw the deal into limbo earlier in the day was reported to be a clause in Tebow's contract that required the Jets to pay the Broncos $5 million to compensate for the front-loaded contract that Tebow signed after Denver chose him in the first round of the 2010 NFL draft. The Jets have reportedly agreed to pay half of that, which was the final hurdle in accomplishing the trade.
The Jets were reported to be one of the teams pursuing Peyton Manning earlier this offseason, and after it was clear they weren't going to acquire him, they rewarded their starting quarterback, Mark Sanchez, with a three-year contract extension that will result in him being paid almost $60 million over the next five seasons, if it's paid out fully. Twenty-seven million dollars of that contract is guaranteed.
The Jets have had uncommon success with their fourth-round picks in recent years. Before drafting Bilal Powell in 2011, they chose, in order from 2004 to 2010, Jerricho Cotchery, Kerry Rhodes, Leon Washington, Brad Smith, Dwight Lowery and Joe McKnight.
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