The Tebow Watch is over before it really began.
The Broncos announced Thursday that they had agreed to terms with the first-round quarterback for a deal potentially worth $33 million over five years, including an $8.7 million signing bonus, according to an ESPN report.
Assuming all is signed and sealed, Tebow should be on the field for the Broncos’ final rookie-camp practice Friday morning.
If Tebow blossoms, it’s a good contract for the Broncos; this locks in their quarterback at a reasonable rate for 2012, 2013 and 2014, assuming he develops into the team’s starting quarterback by then. And if they have to pay out the cash for incentives, it will be money well spent, given that they would have found the franchise quarterback they’ve craved for the past decade.
With Tebow in the fold, only No. 22 pick Demaryius Thomas remains unsigned. The Broncos have only had two training-camp rookie holdouts in the last 10 summers: running backs Tatum Bell (2004) and Knowshon Moreno (2009); if Thomas can come to terms before Sunday morning, it will stay that way.
Andrew, is that $33 million incentive-laced?
Definitely. So if he hits the incentives, great … but if he’s good enough to hit many of the incentives, that might also necessitate a renegotiation to keep him in Denver for the long term. Key, as always, is the signing bonus, which is slightly larger than Dez Bryant’s, one pick ahead of him.
Thanks for the clarity. I can’t wait to see D. Thomas signed.