The New York Jets had a late conference call on Friday night to announce a contract extension for quarterback Mark Sanchez. It's a three-year extension, making it a five-year deal in total. The three-year extension makes the five years now on his deal worth $58.25 million. This effectively drops the Jets out of the Peyton Manning sweepstakes for certain.
Expect the contract extension to drop Mark Sanchez's salary cap number for 2012 substantially. His 2012 cap number was set to be $14.25 million. Now the Jets have committed to him long-term, likely boosting his confidence, and saved some salary cap room for free agency, which will kick off at 4 p.m. on Tuesday.
It was obviously big news when the Jets scheduled a conference call for 10:15 p.m. on a Friday night. Mike Tannenbaum said that the Jets had internal discussions about pursuing Peyton Manning, but were pushing for an extension with Sanchez throughout the past few weeks. Tannenbaum emphasized that the Jets feel really good about having Sanchez as their starter and they are excited for what they believe will be a long, productive career with the team.
Sanchez also had some comments on the deal:
"I'm excited that the Jets believe in me," Sanchez said. "I'm absolutely pleased to be a Jet. My family is ecstatic and now it's time to get to work."
Jets safety Gerald Alexander was pretty pumped about the news, firing off a bunch of supportive tweets. He even suggested that he wants Peyton Manning to sign with the Miami Dolphins.
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