Tebow clears waivers, becomes a free agent

As expected, former Jets QB Tim Tebow went unclaimed during the 24-hour waiver period following his release on Monday, according to a league source. As a result, Tebow is a free agent.

If a team had claimed him, it would've picked up Tebow's contract, which called for him to make $1.055 million in 2013 and $895,000 in 2014 -- both non-guaranteed salaries. There were, of course, others reasons why he went unclaimed. If you need an explanation, you haven't been paying attention for the last two years.

The Jets' financial obligation isn't over. They still owe the Broncos $1.53 million, per the trade agreement. And, yes, that counts on this year's salary cap.