The New York Jets traded a 4th and 6th round pick in the 2012 NFL Draft to acquire QB Tim Tebow from the Denver Broncos.
Tebow has three years remaining under contract at the time of the trade.
Base salaries of the contract are $1,100,000(2012), $6,055,000(2013), and $7,145,000(2014). He can earn additional escalators to his 2013 and 2014 base salaries.
Tebows contract was renegotiated to remove the high end escalators and reduce the base salaries of the contract to $2,100,000(2012), $2,586,875(2013), and $895,000(2014). We are assuming that the guaranteed portions of this salary are being paid as a credit direct to the Denver Broncos as re-payment on a salary advance they paid Tebow in 2011. In Tebows previous contract he had escaltors of $5 million in 2013 and $6.25 million in 2014. Those are likely still able to be re-earned through playing time over the next two seasons. As we learn more details we will update the cap page.
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