Jets and Denver encounter hangup in Tim Tebow’s Contract that could nullify trade

Hold the phone.  The trade has not been completed that will give the New York Jets Tim Tebow.  Adam Schefter tweets that there is a hangup in the language that could nullify the trade.  Never a dull moment in Jets land!

AdamSchefter Filed to ESPN (1): Denver and Jets have encountered hangup in language in Tim Tebow’s contract that could nullify trade. 3/21/12 3:13 PM

AdamSchefter (2) If the Tebow trade to Jets falls apart, St. Louis could wind up getting back into play. Sides sorting through details. 3/21/12 3:14 PM

AdamSchefter Tim Tebow has $5 million worth of recapture language, meaning Jets would have to pay back money to Denver. Jets might be unwilling. Complex. 3/21/12 3:20 PM

AdamSchefter The same money issues in Tim Tebow’s contract caused complications for Jacksonville trying to complete trade. Now Jets facing them. 3/21/12 3:26 PM

AdamSchefter Jets still alive and working to complete this trade. But there are contractual complications. 3/21/12 3:32 PM

The Jets’ trade for Tim Tebow might have hit a snag.

The Broncos are attempting to recoup $5 million paid out as a bonus on Tebow’s original rookie contract, according to league sources.

Money typically isn’t exchanged in this way in trades like this. No team would ever agree to a deal like this, because it would be too complicated.

– Michael Lombardi from NFL.com