The NFL has received a response from PepsiCo and is evaluating it, according to McCarthy, who says the NFL may be satisfied if the ad is either pulled or modified substantially, so that it is clear that PepsiCo has no affiliation with either the NFL or the Chicago Bears.

FORBES: Focus On The Forbes 500s: PepsiCo

Bush, now with the Chicago Bears, has recovered to have a productive NFL career.

NPR: Louisville's Ware Breaks Leg In Tourney Game

But maybe the Chicago Bears, whose new head coach Marc Trestman tutored Tebow before the NFL draft in 2010, could give him a look as their backup.

WSJ: Tebow left to wonder what's next after cut by Jets

This year, the NFL Network expanded its regular-season schedule and will broadcast 13 games, starting with the Chicago Bears visiting the Green Bay Packers on Sept. 13.

WSJ: Cablevision to Carry NFL Network