From Jeremy Fowler at the Orlando Sentinel;

Florida quarterback Tim Tebow was released from Kentucky Chandler Medical Center on Sunday morning after suffering a concussion from a violent hit in the third quarter of Saturday's 41-7 win over Kentucky, according to Coach Urban Meyer..."Tim is doing fine this morning," head coach Urban Meyer said in a statement released Sunday morning. "His CT scans came back and indicated that Tim suffered a concussion. Our medical and athletic training staff will continue to monitor him to determine how much rest and recovery he needs. We will have additional information and updates this week."

Late Saturday evening, Tebow was scheduled to enter the hospital's Intensive Care Unit but did not because of the unit's capacity, according to a hospital source. Tebow was moved to one of more than 400 private rooms in the eight-floor hospital, according to the source.

This is standard procedure for a concussion, which is a huge leap from a few years ago when a concussion was seen as just a headache. (Think of all those times Steve Young and Troy Aikman never went to the hospital. Listen to them on TV now and you might think they should have seen more doctors.) I doubt Tebow will play against LSU. His return does not depend on his motivation or how good John Brantley plays. It will depend on the advice of doctors and more tests. Tebow checking out this morning is good, but he is not out of the woods yet in terms of post-concussion symptoms.

[UPDATE 12:10] Again from Fowler;

Craig Howard, Tebow's former high school coach at Jacksonville Nease and close family friend, told the Sentinel he got word from Tebow's parents that the concussion is "mild" or "normal."...Howard noted that Tebow would have stayed at the hotel longer if there was serious brain swelling or bleeding, common results of severe concussions. An official from Florida's athletic department said the school left a plane behind for Tebow, team Dr. Pete Indelicato and others to fly home when ready. Howard said Meyer, Tebow's coach for four years, stayed behind and is flying back with Tebow.

I have no idea what "normal" is. But the next week is important as any symptoms related to a concussion would keep Tebow out of the next game.