The New York Jets have (thankfully) released QB* Tim Tebow after one disappointing year. When Denver traded him to New York, the Broncos received two draft choices (which they used on 4th-round pick C Philip Blake and 6th-round pick LB Danny Trevathan) and paid $2.5M of Tebow's rookie salary in advance. The Jets still are financing $1.5M of that payment, which counts against the Jets salary cap. More than likely, Tebow's two additional salary baselines of $1.1M in 2013 and $895K in 2014 will remain baselines for his next team, but he will likely not receive any of his escalator bonuses. Since he is not a vested veteran, his next team can waive those salary baselines. This also opens him up for Canada, if he so chooses.
