Jets, Broncos complete trade for QB Tim Tebow

By Dennis Waszak Jr.

Associated Press

Published: Wednesday, March 21 2012 7:22 p.m. MDT

FILE - In this Nov. 17, 2011 file photo, Denver Broncos quarterback Tim Tebow warms up before playing the New York Jets in an NFL football game, in Denver. Tebow has been traded from the Denver Broncos to the New York Jets.

Barry Gutierrez, File, Associated Press

Enlarge photo»

NEW YORK — The Broncos and the Jets have completed a trade to send quarterback Tim Tebow to New York.

The deal hit a snag earlier Wednesday when the Jets apparently balked at repaying Denver more than $5 million for a salary advance due Tebow. ESPN reported that the two sides had agreed to split that cost.

The Broncos also will receive fourth- and sixth-round draft picks, while New York gets a seventh-rounder — all in 2012 — as agreed to in the initial deal.

Denver started shopping Tebow after signing Peyton Manning, and the Jets were considered a long shot as late as Tuesday night. But New York went after Tebow, envisioning him as a versatile complement to starter Mark Sanchez, who received a $40.5 million contract extension, with $20.5 million guaranteed, earlier this month. The Jets also had pursued Manning.

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