Verizon is also a CDMA carrier, like Sprint. So it is not a technical or hardware issue if Sprint does not get the N1.
The whole question is whether or not Sprint will ask Google to create a phone for them.
I am sure that Google has no problems doing this, however, Sprint *might not* want the Nexus One on their network. Sprint likes to install a lot of crap-ware on their phones like NFL, NASCAR, Sprint Navigation, etc. If the phones were coming directly from Google, Google is not going to pre-load these apps for Sprint. Sprint may not want the phone if they can not modify it themselves. Who knows, they might even be under contract with the NFL or NASCAR *requiring* them to pre-install the crap-ware on every phone sold.
When I had my Hero with Sprint, deleting these obnoxious apps, along with several HTC supplied memory hogs was the very first thing I did after I rooted the phone, since Sprint did not allow you to uninstall these apps through the normal market add/remove app method.