ESPN's Adam Schefter reports that a hangup in language in Tebow's contract could nullify the trade between the Jets and the Denver Broncos. The two sides reportedly agreed in principle to a deal earlier Wednesday which would bring Tebow to New York in exchange for a fourth-round draft pick, but the transaction has yet to be finalized.
Tebow has $5 million worth of "recapture language" written into his contract, according to Schefter, meaning the Jets would have to pay back money to Denver to finish the deal.
If the talks fall apart, Schefter reports the St. Louis Rams could re-enter the sweepstakes.
If New York does land Tebow, the team reportedly does not know what role he will play.