Remember the report earlier, that Tim Tebow has been traded to the Jets? Well, there has been a development.
It seems that there is a stipulation in Tim Tebow’s contract that the Jets “weren’t aware of”, when they agreed in principle to the trade with Denver. The Broncos advanced Tebow a little over $5 million on his salary for the years 2012, 2013 and 2014. His contract states that in a trade, the team to take Tebow on has to repay this to the Broncos.
Other teams noticed this before agreeing to a trade for Tebow and have backed out. Apparently the Jets did not. The Jets are trying to work on the terms of the deal, and feel they should be able to back out of the trade. Denver feels it was made in good faith, the trade should stand, and the Jets should be on the hook for the money.
Now, the Jets are trying to make the deal, and the Jaguars have gotten back in, to try and deal as well. We will see what happens in the near future.
This makes you wonder what the Jets were doing here. Mike Tannenbaum and his staff are supposed to be as intelligent and good at their jobs as they come. How could they let this slip through the cracks? Were they asleep while reading the terms of Tebow’s contract? How is it that every other team could figure this part out, except for our beloved Jets? Is Fred Wilpon or James Dolan moonlighting in Florham Park, NJ? The Jets have major egg on their faces here, no matter what happens. No matter how this goes, the fall out will be tough to deal with.