The Denver Broncos and the New York Jets successfully resolved the money issues stemming from the pay advances given to Tim Tebow and finished their trade on Tuesday night. But what exactly did the two sides agree on to make the deal work. Andrew Brandt has the breakdown on the repayments:
Jets payments to Broncos re Tebow are 1.5M this year, 1.03M next, paid weekly thru seasons.Broncos get Cap credit after payments.— Andrew Brandt (@adbrandt) March 22, 2012
What this means is that during the next two seasons, the Broncos will see their cap space increase each week, eventually relieving the team of $2.53 million they provided to Tebow ahead of time. This repayment process was included in Tebow's contract for a situation like this.
While the Broncos get money back, the Tim Tebow circus will now attack Mark Sanchez and force pressure on the quarterback situation there.