I know it was their right to hold him as long as they wanted, but his release was imminent. They absolutely knew there was no trade market for him, they've been shopping him since the off season began with no takers. Now after the draft and most free agents already signed, it makes it that much harder for him to find a job. Yes, obv $4million is a lot of money, but as far as Tebow is concerned it is a slap in the face to release him now.
BTW, not a Tebow fan. IMO his name shouldn't even be mentioned when talking about NFL caliber QB's. I just really don't like the Jets TBH.