Tim Tebow and the Denver Broncos finalized their deal Thursday.
Former Florida Gators quarterback Tim Tebow and the Denver Broncos agreed to terms on a five-year, $33 million contract Thursday afternoon, which put an end to his brief holdout.
The deal guarantees the rookie quarterback $8.7 million according to Michael Lombardi of the NFL Network.
Tebow, the Broncos’ second of two first-round selections, is slated to join the early reporting veterans and other rookies who began their training camp today.
The rest of the team will report over the weekend as camp officially opens on Sunday.
The 6-foot-3, 245-pound Heisman Trophy winner won two national titles during his time at Florida and compiled a record of 35-6 as a starter.
He was the 25th overall selection in this 2010 NFL Draft.
Tebow is competing with Brady Quinn for the No. 2 spot on the Broncos depth chart.