texan279
Hall of Fame
Jay Glazer / FOXSports.com
Posted: 3 hours ago
The New York Jets don't have their Westside stadium yet but they have their quarterback locked up for nearly the next decade. FOXSports.com has learned that Chad Pennington has agreed to a 7-year extension that includes approximately $23 million in total bonus money, $18 million to sign and $5 million in non-guaranteed bonus money over the next two years.
In the first five years of the deal, Pennington will earn an average of $8.6 million per year of new money. The contract balloons in the final two years, making the total value of the deal a little more than $64 million.
The Jets can now turn their attention to defensive ends Shaun Ellis and John Abraham, also scheduled to hit the free-agent market.
Chad Pennington now joins elite company with his 7-year extension. (Chris Trotman / GettyImages)
The quarterback, entering his fifth season, will receive the second-largest amount of up-front money, behind only Indianapolis quarterback Peyton Manning, who got a $34.5 million signing bonus earlier this year. Both of those contracts were negotiated by Tom Condon, who was not available for comment Wednesday. The Jets do not release contract terms.
Pennington, 18th overall pick in the 2000 draft, has been the Jets' starter in only 23 games. He took over a month into 2002 for the benched Vinny Testaverde and led the team's turnaround to win the AFC East crown and one playoff game. Pennington was the league's most efficient passer.
A year ago, he broke his wrist and hand in an exhibition game and was sidelined for two months. The Jets wound up 6-10, and their poor record emphasized Pennington's value.
"Getting an extension is not going to make me play better or make me rest my head easier or anything like that," Pennington said after practice Tuesday.
"What an extension does, in my opinion, it gives you a sense of excitement knowing you have more than one chance to help this team, and it is not just a one-year thing. If things should happen, I know for a fact I will have some time to get to build a championship program. What is exciting is that I can finish what we started."
With the 2004 season being the last under the contract he signed as a first-round draft choice, the team recognized the need to re-sign Pennington before he became a free agent.
Curtis Martin, the highest-paid Jet, will make $5.2 million this season. Martin thinks Pennington's new contract will be well-deserved.
"I don't say it because he's my teammate and I think he's a good guy," Martin said, "but Chad is a good quarterback and he's as smart as they come. When I look at him mentally, there are very few quarterbacks I see in the same light - like Peyton Manning - who mentally see the whole game, the whole picture. You know that they know the game so well, almost like a chess guru.
"He has a football mind, whether it's natural or not I don't know. I know he's prepared as well as anyone, and he's always here studying or lifting weights or going over the game plan ...
"He should have built his house next to our facility
Posted: 3 hours ago
The New York Jets don't have their Westside stadium yet but they have their quarterback locked up for nearly the next decade. FOXSports.com has learned that Chad Pennington has agreed to a 7-year extension that includes approximately $23 million in total bonus money, $18 million to sign and $5 million in non-guaranteed bonus money over the next two years.
In the first five years of the deal, Pennington will earn an average of $8.6 million per year of new money. The contract balloons in the final two years, making the total value of the deal a little more than $64 million.
The Jets can now turn their attention to defensive ends Shaun Ellis and John Abraham, also scheduled to hit the free-agent market.
Chad Pennington now joins elite company with his 7-year extension. (Chris Trotman / GettyImages)
The quarterback, entering his fifth season, will receive the second-largest amount of up-front money, behind only Indianapolis quarterback Peyton Manning, who got a $34.5 million signing bonus earlier this year. Both of those contracts were negotiated by Tom Condon, who was not available for comment Wednesday. The Jets do not release contract terms.
Pennington, 18th overall pick in the 2000 draft, has been the Jets' starter in only 23 games. He took over a month into 2002 for the benched Vinny Testaverde and led the team's turnaround to win the AFC East crown and one playoff game. Pennington was the league's most efficient passer.
A year ago, he broke his wrist and hand in an exhibition game and was sidelined for two months. The Jets wound up 6-10, and their poor record emphasized Pennington's value.
"Getting an extension is not going to make me play better or make me rest my head easier or anything like that," Pennington said after practice Tuesday.
"What an extension does, in my opinion, it gives you a sense of excitement knowing you have more than one chance to help this team, and it is not just a one-year thing. If things should happen, I know for a fact I will have some time to get to build a championship program. What is exciting is that I can finish what we started."
With the 2004 season being the last under the contract he signed as a first-round draft choice, the team recognized the need to re-sign Pennington before he became a free agent.
Curtis Martin, the highest-paid Jet, will make $5.2 million this season. Martin thinks Pennington's new contract will be well-deserved.
"I don't say it because he's my teammate and I think he's a good guy," Martin said, "but Chad is a good quarterback and he's as smart as they come. When I look at him mentally, there are very few quarterbacks I see in the same light - like Peyton Manning - who mentally see the whole game, the whole picture. You know that they know the game so well, almost like a chess guru.
"He has a football mind, whether it's natural or not I don't know. I know he's prepared as well as anyone, and he's always here studying or lifting weights or going over the game plan ...
"He should have built his house next to our facility