Tebow, the 25th-overall selection in April's draft, signed a five-year, $11.25 million contract with $8.7 million guaranteed, sources told ESPN.
According to the source, the contract's max value is $33 million.
His deal is an 18.5 percent increase over the contract last year's No. 25 pick, Miami Dolphins cornerback Vontae Davis, signed.
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