The New York Jets ended months of Peyton Manning speculation Friday night with an emphatic statement, announcing a three-year contract extension for incumbent Mark Sanchez.
The Jets made Sanchez one of the highest-paid quarterbacks in the NFL after a season in which they openly admitted they weren't pleased with his rate of development. The timing also is curious, coming only hours after they were eliminated from the Manning sweepstakes.
The deal includes $20.5 million in guarantees for 2012 and 2013 and $40.5 million in "new" money, bringing his total over five years to $58.25 million, according to sources. He can make an additional $10 million in escalators.
The $58.25 million gives Sanchez the seventh-highest financial package among NFL quarterbacks, sources told ESPN senior NFL analyst Chris Mortensen.
Excuse me a sec...**inhale**...BWAHAHAHAHAHAHAHA!!!
There's nothing much else to say, besides...what the hell are they thinking? This is a "What have you done for me lately?" league and the last thing Sanchez did for the Jets was throw a bunch of passes in the dirt as they missed the playoffs. Between this and bringing Santonio Holmes back with a vote of confidence, I have no idea what the thought process is here.
One thing's for sure, this is going to be the most entertaining team to watch next season, for all the wrong reasons. Can we put them on Hard Knocks again?
Eli was never a joke, he had a learning curve and improved each year. Sanchez has gotten worse each year out and seemingly doesn't demand any respect in the locker room. Signing him will either get the teammates to realize the organization is serious about him as a QB And give him some respect, or the locker room will shit all over the extension and he'll never gain a foothold.
They're stuck with him until 2013, due to a bunch of team options, that's it. They try it this year, and if he does terrible they bring in another guy to compete with him. If the other guy wins, cut Sanchez after the 2013 season at no extra cost.
They're potentially saving a lot more than 6 million in this deal.
There are alot of little idiocincrecies when it comes to the draft and the salary cap. Quick and easy answer, yes the picks contract counts against the cap. One way the NFl eases things for teams is by institutng a rookie cap.