According to Rich Cimini of ESPN New York, the Jets will try to look for a trade partner over the next few weeks at the NFL Scouting Combine:
The Jets will try to shop him at this week's scouting combine. The first day they can trade him is March 12, so they might keep him until then with the hope that they can swing a deal. Chances are, no one will bite, so they'll end up releasing him.
That last part might explain the most realistic option for New York at this time.
Tebow struggled to get on the field in his first year with the Jets. He played limited snaps in the Wildcat formation and was otherwise used on special teams.
Overall, the backup quarterback totaled only 32 rush attempts for 102 yards and completed six of his eight pass attempts for 39 yards. He did not get into the end zone once.
This likely would not have been an issue if not for the poor play of starting quarterback Mark Sanchez. The fourth-year player had 18 interceptions to go with his 13 touchdowns. Only Matt Cassel had a lower quarterback rating among qualified players.
When Sanchez was finally benched, it was third-string quarterback Greg McElroy who took over the offense, not Tebow.
Tebow's lack of playing time and production will likely prevent any team from giving up too much in a potential trade.
However, the popular quarterback still has plenty of upside. In 2011, he led the Denver Broncos to the postseason and a win in the wild card round over the Pittsburgh Steelers. That season, he led the team to six straight wins during a magical run to the playoffs.
In addition, Tebow will provide any team with plenty of financial gain. Despite his struggles on the field, his Jets jersey came in at No. 8 among the top 10 highest-selling uniforms in the NFL last season, according to ESPN's Darren Rovell.
Based on his previous success, it's likely some team will give Tebow a chance. It looks like his time with the Jets is finally coming to an end.