It is not so much that Elway hates Tebow, though I am certain that does have some play here. I believe it is more to do with Elway’s ego. You see he can’t go and admit that he made a mistake.
Either way, the result is the same.
Like you said, It won’t happen.
My point is simply that I believe there was some kind of bad blood there. I don’t know what it was. I do know that it was odd for Elway to badmouth his own quarterback after his 4th straight win and say he was looking for a qb. Elway kept it up, questioned his skillset in public, and pretty well undercut the guy.
That would NEVER have happened in an awful lot of NFL cities even if the owner wanted to dump a player. They would have just kept quiet and made a trade.