The team, which is co-owned by the rock band of the same name, said Monday the contract offers the possibility Tebow could make millions, the Los Angeles Times reported.
"As a former NFL player, the LA KISS will offer intense training and unwavered commitment to the former New England Patriots player, with the hopes to take him to the next level," a statement from the team, which is slated to start play in 2014, said.
Tebow has not said whether he is interested in the deal.
"His exciting style of play would definitely send shock waves through the league. We're excited for the opportunity to see him with an LA KISS uniform on, and for the LA KISS fans to be rocking their Tebow shirts and jerseys," Simmons said in the statement.