March 20 (Bloomberg) -- Financial language in Tim Tebow’s contract with the Denver Broncos may nullify his trade to the New York Jets, according to ESPN.
Tebow has about “$5 million worth of recapture language” in his contract -- money the Broncos already paid him that they would recoup if he were to retire before completing the deal -- and Denver is asking the Jets to compensate them to complete the agreement, ESPN.com said citing an unidentified person with the Broncos.
The same issue caused complications for the Jacksonville Jaguars when they tried to acquire Tebow, ESPN said.
The Jets agreed to send fourth- and sixth-round draft picks to Denver for Tebow and a seventh-round pick, ESPN said.
To contact the reporter on this story: Mason Levinson in New York at email@example.com.
To contact the editor responsible for this story: Michael Sillup at firstname.lastname@example.org.