Tim Tebow's best chance at making an NFL comeback may have been his last.

The former Heisman Trophy-winning quarterback, a first-round pick of the Broncos who led Denver to a playoff win, was released by the Eagles Saturday as they reduced their roster to 53 players.

"I think Tim's really progressed, but we didn't feel like he was good enough to be the [third quarterback] right now," Eagles coach Chip Kelly told reporters.

Kelly took a chance on Tebow by signing the former Jet to a one-year contract in April, and the quarterback showed some improvement in his mechanics.

Tebow appeared likely to make the roster after Kelly traded former fourth-round pick Matt Barkley to the Cardinals on Friday. Tebow was competing with Barkley for the No. 3 spot on the depth chart behind starter Sam Bradford and former Jets quarterback Mark Sanchez, a Tebow teammate in 2012.

But Kelly decided to go without a third quarterback for now, so he released Tebow. If he isn't signed by another team, he's expected to return to his job as an ESPN college football analyst.

"He really improved his throwing motion," Kelly said. "He just needs to get more playing time, needs to get out there and get reps."

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Tebow saw his most extensive preseason action in Thursday night's 24-18 loss to the Jets. He was 11-for-17 for 189 yards, two touchdowns and one interception. He also rushed four times for 32 yards.

The Jets traded for Tebow in 2012, hoping to use him in the Wildcat offense, but his presence created a distraction for Sanchez and Tebow was barely used. He threw for only 39 yards, rushed for 102 yards and didn't score a touchdown. The Jets released him after the season.

Tebow was signed by the Patriots the following year but was released on the final preseason cut. He did not play in 2014.