The trade of Tim Tebow to the Jets is off. The announcement was made by ESPN’s Adam Schefter, who is close with Mike Tannenbaum.
“In Tebow’s contract is a $6.2 million salary advance, of which $1.2 million already has been paid by Denver, sources told Schefter,” wrote ESPN.com. “The difference of $5 million is still advanced against his future salary, and that burden would shift to the Jets in a trade. The Jets, sources said, believe the Broncos should owe Tebow that money.”
We will keep you posted on any further announcements from Schefter.