Sunday, March 10, 2013

Buying Tebow

Everyone is focusing on whether Tim Tebow will be traded.  But there are several ways for a team to acquire him:

  1. Trade - Starting on March 12, any team can trade with the Jets to obtain Tebow.  They will have to give something of value in return, such as draft picks, other players, or cash.  Tebow keeps his existing contract, unless he later agrees to restructure. Most likely the Jets would take the most lucrative offer and not give Tim any say in where he goes.
  2. Waivers - Because he has less than 4 years in the league, Tebow is not classified as a veteran by  NFL rules.  Therefore, if he is released by the Jets this year, he goes on the NFL waiver wire system. Each team has 48 hours to decide whether to claim him. The claiming team with the lowest standing last year gets him. Tim has no say in which team he goes to. They pay nothing to the Jets, and Tebow keeps his existing contract.  They can release him at any time, at which time he goes back into waivers. 
  3. Free Agency - If nobody claims Tebow on waivers, he becomes a free agent.  Any team can make an offer, and Tim can sign with any team, at any time.  As part of the process the team will negotiate a new contract with Tebow.