The New York Jets finally waived Tim Tebow.

The announcement came Monday morning only days after the NFL Draft. General manager John Idzik and coach Rex Ryan informed Tebow upon his arrival to phase two of the offseason program, according to NFL.com.

"We have a great deal of respect for Tim Tebow," Ryan said in a statement. "Unfortunately, things did not work out the way we all had hoped. Tim is an extremely hard worker, evident by the shape he came back in this offseason. We wish him the best moving forward."

Tebow's release comes after the Jets drafted West Virginia quarterback Geno Smith over the weekend in the second round. With six quarterbacks on the roster, Tebow became the odd man out. 

Tebow spent one lackluster season with the Jets after the Denver Broncos traded him in 2012 for a fourth and sixth round pick. The Jets brought him in to run a wildcat option under offensive coordinator Tony Sporano, but it never panned out.

He played in only 12 games, completing six-of-eight passes for 39 yards and rushing the ball 32 times for 102 yards.

Ryan and Sporano never felt comfortable with Tebow. Ryan passed on playing Tebow after he benched quarterback Mark Sanchez last season for ineffective play. 

Critics suggested Tebow's acquisition to be a publicity stunt to generate headlines by owner Woody Johnson.

It worked. 

Reporters flocked to the Jets' 2012 offseason training camp, and "Tebow-mania" inundated media headlines. His presence became a distraction.

The Denver Broncos selected Tebow as the 25th overall pick in 2010. John Elway became the executive vice president of football operations in 2011 for the Broncos and never saw Tebow as the future of the franchise. They traded Tebow to the Jets in 2012 after signing quarterback Peyton Manning.

It's uncertain if a team will sign Tebow. If the Florida standout is unable to find a team in the offseason, there is speculation he could play Arena football.