New York: The New York Jets finalised their trade for quarterback Tim Tebow on Wednesday after reaching agreement with the Denver Broncos over a contract detail that had threatened to scuttle the deal.
The Jets agreed to pay half of the $5 million (Dh18 million) that the contract called for a team to repay Denver for advance money already paid to the quarterback, National Football League website NFL.com reported.
"This was an opportunity to add a dynamic playmaker," Jets general manager Mike Tannenbaum told reporters. "Mark [Sanchez] will be the starter and Tim will be the back up.
"This makes us a better football team."
Tebow, a Heisman Trophy winner with the University of Florida, helped lead the Broncos to the play-offs last season, but was traded one day after Denver signed free agent Peyton Manning to a five-year $96 million deal.
The Jets had initially agreed to acquire Tebow by sending a fourth-round draft pick and a sixth-round selection to Denver, who sent a seventh-round pick back to the Jets along with Tebow.
"Tebow-mania just got a New Jersey address," the Jets had proclaimed on their website before discovering the payback provision that stalled finalisation of the agreement.
With the deal in limbo, Tebow's hometown team the Jacksonville Jaguars re-entered talks and Tebow was given a choice of going to the Jets or the Jaguars and chose New York, nfl.com reported quoting a league source.
The deeply religious Tebow became one of the talking points of the NFL last season after he stepped in as starting quarterback and helped the Broncos overcome a 1-4 start with a six-game winning streak to finish the season 8-8 and win the AFC West title.