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Jets extend Mark Sanchez's contract

Updated: March 12, 2012, 1:10 PM ET
By Rich Cimini | ESPNNewYork.com

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 extended Sanchez after a season in which they openly admitted they weren't pleased with his rate of development. The announcement came 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, ...

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