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Published on 07/29/2010 at Thu Jul 29 16:30.
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A sign of things to come? Tim Tebow confers with Brady Quinn during Broncos minicamp at Dove Valley. (AP Photo/David Zalubowski)

A sign of things to come? Tim Tebow confers with Brady Quinn during Broncos minicamp at Dove Valley. (AP Photo/David Zalubowski)

As we speculated yesterday, Denver Broncos rookie Tim Tebow has signed with the club on this the second day of training camp for the Broncos rookies.

ESPN’s Adam Schefter is reporting via twitter that the deal is worth $33 million with $8.7 million guaranteed. Original speculation around these parts was $12 million total, which is close to the actual $11.25 million that Tebow will receive if he does not hit any of the escalators in his contract. His contract is worth $33 million if he hits all of those escalators.

If all goes well we should see Tebow on the field Friday morning for the Broncos third day of rookie training camp.

The signing of Tebow leaves only one Broncos rookie unsigned, wide receiver Demaryius Thomas. Given the Broncos current track record expect Thomas to be signed by either late tonight or sometime tomorrow during the day on Friday.

Fox31′s Josina Anderson tweeted that Broncos head coach Josh McDaniels was adamant that the Broncos themselves break the news of Tebow signing. Thus first word coming directly from the Broncos (and then us or Mike Lombardi as the NFL Network liked to say).

With Tebow under contract, Thomas soon under contract, Eric Decker, Eddie Royal and young Kenny McKinley in the fold for the Broncos; the future may be here now. For better or worse…

Press Release after the jump.

ENGLEWOOD, Colo. — The Denver Broncos on Thursday agreed to terms with quarterback Tim Tebow, whom they selected in the first round (25th overall) of the 2010 NFL Draft from the University of Florida. As per club policy, terms of the deal were not disclosed.

Tebow (6-foot-3, 245 pounds) was a finalist for the Heisman Trophy for three consecutive seasons (won the award in 2007) and was part of two national championship teams (2006, ’08) as he compiled a 35-6 record as a starter for the Gators.

He set Southeastern Conference career records for total offense (12,232 yds.) and rushing touchdowns (57) while setting an NCAA standard with a 170.8 career passing efficiency (661-995, 9,285 yds., 88 TDs, 16 INTs).

A Parade All-American at Nease High School in Jacksonville, Fla., Tebow was born on Aug. 14, 1987, in Makati City, Philippines.

  • areferee

    According to NFL.com, the deal is 5 years and $33M.

  • scottey

    Yea, extremely happy……now let the competition begin.

  • anthony33

    Okay… now I am finally getting ready for some damn football.

    Obviously none of us know how this is going to ultimately turn out, but I do have a great feeling about this guy. Darryl Reid compared his work ethic and desire to that of Payton Manning.

    All that being said, this is the first time in literally 30+ years that I am expecting the Bronx to be bad. They were mediocre at best last year and aside from the D-line, I see nothing that would lead be to believe they will be better. Hope I am dead wrong. Next year or 2 years down the road… maybe, but not this year.

  • http://broncoszone.blogspot.com/ Jon

    Yes!

  • dogheadbrew

    Cap'n nosy here would like to see those escalators. 11.25 mil with 8 guaranteed is in the neighborhood of what we would expect. The additional 22(ish)mil would tell us exactly what the development plan and goals the Broncos have for him. I, for one, would be thrilled to hear starts are no factor for the first year (or two).

  • InRodWeTrust

    How about an extra year in the system for most the offense?

  • Jomjamflimflap

    He is only getting 8.7 mil guaranteed off of a 11.5 mil contract. The rest of the money is all based on crazy bonuses that he'll likely end up cut or with a restructured contract before he even gets close to hitting.

  • http://manchester-architects.com T-Money

    Most of the time it revolves around things like…number of snaps taken, number of plays participated in ect… Honestly, I've been saying from the beginning that we're going to see a lot more Tebow than people think. He's a weapon on the ground as well as somebody that can throw as an option. Try to imagine a shotgun set with Tebow and KnoMo and have them run an option… it'd scare me.

  • Anthony33

    IRWT
    Yes, they do have a year under their belt, but when you consider Marshall is gone (not saying that is a bad thing), Shceffler is gone, Clady is coming off a serious knee injury and a rookie center… I don't think the year will matter.

    Plus Orton is never going to be better that just average.

  • Joe

    What do you guys think our record is going to be after looking at our schedule? Theres a lot of people thinkin we will go .500 or even less, but I try to stay optimic. I think we could pull off 10 wins with our schedule. Whats everyone else thinkin?

  • herc_rock

    Nearly 20% more than the 25th pick in '09 got.

  • http://nation.theorangepage.com/blog Ian Henson

    Really tough stretch right out of the gate… I don't know that it could get much more difficult than Colts, Ravens, Jets (at least the Chargers aren't until later), not to mention that the Broncos often lose in their opening week.

  • Joe

    What do you guys think our record is going to be after looking at our schedule? Theres a lot of people thinkin we will go .500 or even less, but I try to stay optimic. I think we could pull off 10 wins with our schedule. Whats everyone else thinkin?

  • herc_rock

    Nearly 20% more than the 25th pick in '09 got.

  • http://nation.theorangepage.com/blog Ian Henson

    Really tough stretch right out of the gate… I don't know that it could get much more difficult than Colts, Ravens, Jets (at least the Chargers aren't until later), not to mention that the Broncos often lose in their opening week.