Tebow traded to Jets for draft picks

The Broncos finalized the trade of quarterback Tim Tebow to the New York Jets this evening for a fourth-round draft choice.

A snag in the trade earlier in the day in regards to a contract clause that stated that the New York Jets must pay the five million dollars the Denver Broncos owed Tim Tebow. The negotiation concluded with the New York Jets paying half of that five million dollars.

The Broncos-Jets trade:

• Denver Broncos receive a 2012 fourth- and sixth-round pick from the Jets.
• New York Jets receive Quarterback Tim Tebow and a 2012 seventh-round pick.

The deal was facilitated due to the Denver Broncos signing All-Pro Veteran Quarterback Peyton Manning to a five-year $96 million contract.