Tim Tebow signed a contract the other day. It was with Jockey though, and not the Bronco's. I do believe he will sign with the Broncos soon. I have personally spoken with representatives of his agent (This is true and not me just making stuff up)
The Bronco's Rookies reported today. The full team is due to report this Sunday. I believe Tebow's deal will be done by then and he will be in camp on August 1. It is the smart move and Tebow is certainly smart.