The Denver Broncos have traded quarterback Tim Tebow to the New York Jets in exchange for a fourth-round draft pick, Newsday is reporting.
Tebow became redundant in Denver after the team signed Peyton Manning to a five-year, $96 million contract. Newsday adds:
“Earlier this offseason, the Jets signed starting quarterback Mark Sanchez to a three-year extension that runs through 2016 and includes $20 million in guaranteed money for 2012-13. They also recently signed former Detroit Lion Drew Stanton as a backup quarterback.
“The Jets have pulled off surprises at quarterback before. In August 2008, they traded for Brett Favre and released Chad Pennington. Two weeks ago, they explored signing Manning as a free agent, although he did not include the Jets on his list of finalists. Jets owner Woody Johnson said last week the Jets ‘passed on’ Manning.”