Just yesterday, Tim Tebow, the former University of Florida star quarterback who didn’t report to team facilities with other Denver Broncos rookies, looked like a holdout, a situation that could have damaged his much-hyped good-guy image.

But that status didn’t last long, as Tebow inked a five-year, $11.25 million contract by the end of the day, guaranteeing him more than $8 million, reports The Denver Post.

Despite being the third-ranked quarterback on the Broncos, Tebow immediately becomes its highest-paid, a fact that will surely focus more attention on when—not if—he will become the team’s starting QB.

It’s fairly clear that Broncos head coach Josh McDaniels has been fond of Tebow since the two met earlier this year. As a purported quarterback expert, McDaniels thinks he can turn Tebow into the driving force of the Broncos. After all, a team wouldn’t trade several draft picks and fail to address areas of need in the first round of the draft with a player it doesn’t expect to contribute.

Mile High Report sums it up well: “The Broncos obviously expect Tebow, the 25th pick in the draft, to have a huge impact on this team sooner rather than later.”

Learn more about this year’s most hyped Bronco in the August edition of 5280, which hits newsstands today.