NFL: Mark Sanchez gets 3 year extension worth $40mil

[Anomaly]

http://profootballtalk.nbcsports.com/201...-contract/

Quote:Breaking down Sanchez’s “lipstick and powder” contract
Posted by Mike Florio on March 10, 2012, 1:22 PM EST

Yes, Jets quarterback Mark Sanchez will earn $20.5 million in guaranteed money in 2012 and 2013 as part of his new contract. The fact, however, that Sanchez already was due to earn $17.75 million over the next two seasons has prompted one league source to characterize the move as a “lipstick and powder” deal.

For an extra $2.75 million, Sanchez gave the Jets three straight option years, allowing the team to keep him if he finally realizes his full potential — and to cut him without further investment after the 2013 season, the 2014 season, or the 2015 season.

The contract also could be called a glorified restructuring. Per a source with knowledge of the details, Sanchez’s $11.75 million base salary for 2012 has been converted to an $8 million signing bonus, a fully-guaranteed base salary of $3.25 million, and a $500,000 workout bonus.

The move creates $6.4 million in 2012 cap space.

In 2013, Sanchez will receive a fully-guaranteed base salary of $8.25 million. In 2014, Sanchez is due to receive a $2 million roster bonus on the 15th day of the league year and a non-guaranteed $9 million base salary. In 2015, there’s another $1 million roster bonus due on the 15th day of the league year, plus a non-guaranteed base salary of $12.5 million. In 2016, Sanchez is due another $1 million roster bonus on the 15th day of the league yeaar, plus a base salary of $10.75 million. Workout bonuses of $500,000 apply in each year of the deal.

The contract contains $10 million in potential escalators, based in part on Super Bowl appearances and/or victories.

Given the organization’s apparent mixed feelings about Sanchez, getting the extra money and converting all of it to a guaranteed payment was a good career move. He could have been dumped after 2012, with the $6 million due next year forever gone.

Still, it likely wasn’t an accident that the news of this one came late on a Friday night. It’s hardly a big-money, long-term commitment.

Which actually will be regarded by plenty of Jets fans as good news.

[Nuccah]

They shouldn't even have extended him. He has to be one of the worst starting QBs in the league (Gabbert is the only one definitively worse), why would you shackle your team to him for two years???

[papachaz]

ok, so to go along with all the WTF???? and HAHAHA sentiment, haven't they (the jets), in each of the last two years, somewhere just past the halfway point in the season, benched or threatened benching Sanchez, by bringing in another QB in practice, just to light the proverbial fire under his ass??????

this is definitely a WTF??? moment. for all you long time Falcons fans, remember when the Smiths were our owners???? i had some flashbacks there for a second