From the Star-Ledger:
The Jets have reached an agreement with rookie quarterback Mark Sanchez on a five-year deal worth $50 million that guarantees the former USC star roughly $28 million, The Star Ledger has learned.
The deal makes Sanchez, drafted fifth overall, the highest-paid player in club history. With that type of money invested in Sanchez, it's hard to imagine it'll be long before he's the Jets' starting quarterback, perhaps as early as opening day in Houston.
The surprising thing is that it's not that much money. As a quarterback selected 5th overall, I was anticipating something closer to Matt Stafford's $72 million contract.
Great job by the GM. Tannenbaum, you sly son of a gun. Now get back to Leon's contract.