I honestly would be fine with trading a late round pick for him, if for no other reason than he would create some buzz around Cleveland. Yeah all of us that are hardcore sports fans realize that he sucks, but the general public? Different story. Tebow in Cleveland even as a backup creates an instant boom in Cleveland Browns jersey sales, increases Cleveland Browns media coverage, and gives a boost to local businesses.
He would step right into the same role he played last year: major fan favorite at the biggest of fan favorite positions (backup QB). If Colt goes out and starts 0-4, at least we get the novelty of Tebowmania. Not saying we'd end up going apeshit and making the playoffs like Denver did, but fuck, it would still be interesting to watch.