Update (3:45 p.m. ET): Jets and Broncos hit contract snag, possibly causing the trade to be nullified, according to ESPN.
Let me preface this by saying that I like Tim Tebow. He's a great guy, the kind that you want to be the face of your franchise. He also has potential as a starting quarterback for any team that can put the time and money into developing him and can risk giving him a chance.
The fact is, though, there's no room for Tebow in Green Bay.
The Packers have arguably the best quarterback in today's NFL, Aaron Rodgers, as their starting quarterback for the next decade or so. Barring a serious negative development, there's no way the Packers start anyone not named Rodgers for more than a fill-in here or there. If Tebow wants to continue as a starter, he needs to hope for another destination despite some speculation the Packers could be interested.
The team definitely has the ability to take Tebow and train him behind Rodgers, which would be absolutely key for the young quarterback. It would do wonders for Tebow's game to train with a great quarterback and a solid staff, especially a quarterback who also experienced major second-guessing and was nearly displaced by an aging legend. But it's unrealistic to think that Tebow would ever be more than a backup in Green Bay. He's only a few years younger than Rodgers, and there's no way that he wants to sit behind him for a decade to have a solid four-year-or-so career.
In that respect, it's obvious that the Packers would be in another situation like the one they just got out of, training a quarterback that they'll never really use and who would probably depart via free agency. Sure, compensatory draft picks are nice, but if they're going to put years of development into a player, it ought to be one that they can reasonably utilize.
Tebow will provide a financial boon to most of the teams that are considering him, because adding such a big name to a roster will boost ticket and jersey sales. He wouldn't have as profound an effect in Green Bay, where tickets are sold consistently and enough star power already exists to sell plenty of jerseys. In addition, the Packers are coming off of a stock sale, which raised far more money than Tebow would.
The Packers are in a position where they could feasibly acquire Tebow, since the Broncos are just looking to get whatever they can from whatever team will take him off of their hands. Ted Thompson is good at stockpiling mid- to late-round draft picks, and he could easily send a fifth-round pick their way for a second-round talent. But Tebow may want more money that Green Bay would be willing to pay the equivalent of a fifth-round pick or backup quarterback, another reason that the Packers should pass.
All this said, it wouldn't be the end of the world if Tebow landed in Green Bay. In fact, it might be the best destination for him, as it would help hone his abilities for a long-term gig elsewhere. If he wants to start now, instead of sitting behind someone and learning the ropes, then a position battle in Jacksonville or somewhere else would be a much better bet.
Really, if Tim Tebow comes to Green Bay, Tebow would be a winner. It would be the Packers who would lose, training another solid, young quarterback who will eventually play against them.