With the Denver Broncos and New York Jets still trying to figure out whether they'll be able to complete Wednesday's trade that would sent quarterback Tim Tebow to New York, Mike Klis of the Denver Post has the details on Tebow's contract.
The two sides are trying to determine what will happen now that the Jets are hesitating to spend the $5.06375 million in kickback money to the Broncos in order to complete the trade. Apparently New York wasn't aware of the stipulation until after the trade was agreed upon, which will make it significantly costlier for the Jets. Klis explains:
Tebow received $6,277,500 million as advances from salaries in 2011 ($1,213,750); 2012 ($1,425,000); 2013 ($1,691,250) and 2014 ($1.92 million) ... The Broncos paid the advance, but the 2012, 2013 and 2014 salaries still go to team that gets Tebow’s services.
The Broncos are expecting to Jets to pay them back those salary advances, but the Jets are refusing to do so at the moment. Klis says that the deal may actually end up dying now.