Jets Trade For Tim Tebow Finalized [POLL/VIDEO]

The Jets trade for Tim Tebow has been finalized after being in danger earlier this afternoon because of a clause in Tebow’s contract with Denver.

The deal got hung up after being announced because Tebow’s contract contains about $5 million worth of recapture language meaning the Jets would have to pay back some money to Denver, and the Jets were initially unwilling to do that according to ESPN.

• INTERACTIVE: Tim Tebow’s Career
• OPINION: It’s All About The Press

The Jacksonville Jaguars originally passed on Tebow because of the contractual  language but re-entered into the bidding this afternoon after the original deal with the Jets hit a snag. The St. Louis Rams were  in the mix at one point this afternoon and Jacksonville showed renewed interest before the Jets sealed the deal.

WHO PAYS FOR TEBOW’S 2011 ADVANCE?

At issue was a $6.2million salary advance paid to Tebow  before the 2011 season sources told ESPN.  Tebow’s contract — assigned to the Jets as per the trade — required the Jets to repay the advanced salaries corresponding to the 2012, 2013 and 2014 seasons, a total amount of about $5 million, according to sources.

The Broncos expected the Jets to pay back those salary advances as per terms of the contract. The Jets balked at doing so.

Denver general manager Brian Xanders says the Broncos will receive fourth- and sixth-round draft picks, while New York gets a seventh-rounder — all in 2012.

MIXED REACTION FROM THE JETS

There was mixed mixed reaction from present and former Jets. Joe Namath, despite professing to being a Tebow fan, was hoping the deal fell through and called it a “publicity stunt.”  “I’m just sorry that I can’t agree with this situation,” said Broadway Joe, adding “I don’t think they know what they’re doing over there.”

“I think Sanchez should be angry about what’s taken place.”

Cornerback Antonio Cromartie tweeted before the trade on Wednesday that “we don’t need Tebow,” expressing his confidence in Sanchez and the current roster.

QUARTERBACK ROULETTE

The deal is the latest in the NFL’s “Quarterback Roulette” that began when the Indianapolis Colts released Peyton Manning. The Jets, initially said to be interested in Manning, instead signed Mark Sanchez to a three-year extension worth $40.5 million with $20million guaranteed.

Tebow became available  when the Broncos signed Peyton Manning to a five-year, $96 million contract. He  turned Denver around last season, even wining them a playoff again against the Pittsburgh Steelers but misfired on passes and was often more effective as a runner.

Sanchez will stay with the Jets.

“We passed on (Manning),” Jets owner Woody Johnson said on Fox Business Channel after the extension was announced. “Sanchez is not leaving. We’ve got a pretty good tether. We’ve got five years. We like Mark.”

The Associated Press contributed to this report.

TIM TEBOW CAREER STATS

Source: NFL.com

MARK SANCHEZ CAREER STATS

Source: NFL.com