(NEW YORK) — Tim Tebow is officially headed to the New York Jets, after an earlier stall in negotiations appeared to nearly compromise the deal.
Earlier Wednesday, the Denver Broncos reportedly agreed to send Tebow and a 2012 seventh round pick to the New York Jets in exchange for a fourth and sixth round draft pick in this year’s draft. But the trade hit a snag over language in Tebow’s contract, which stated that any team who acquired the quarterback must pay the Broncos $5 million to make up for the money Denver paid him in advance, according to the Denver Post.
The two sides, however, were able to reach a compromise Wednesday night. The Jets, according ESPN’s NFL insider Adam Schefter, have “agreed to pay half of the $5 million in compensation back to Denver that was in dispute,” clearing the way for Tebow to join Gang Green in the Meadowlands.
Copyright 2012 ABC News Radio
Eliott C. McLaughlin, CNN Newswire
Jill Martin, CNN