Breaking News: Jets Bow out of Manning Race, Extend Mark Sanchez for Three Years

Sam Quinn@@Samquinn23Contributor IIIMarch 10, 2012

ESPN is reporting that the Jets have bowed out of the chase for former Indianapolis Colts quarterback Peyton Manning and have extended the contract of Mark Sanchez.

The extension, which the two sides have reportedly been in discussions about "for weeks," is for three years. Salary figures have not yet been released.

What this means for the Jets offseason is unclear. As well as ruling them out of the chase for Manning, it also likely precludes them from chasing veteran starters like Jason Campbell and Kyle Orton. 

Sanchez has been maligned in his three years with the team, but the extension indicates that the team clearly still has faith in him as their quarterback of the future. 

Related

    Report: Gronk, Pats Nearing New Deal

    NFL logo
    NFL

    Report: Gronk, Pats Nearing New Deal

    Kyle Newport
    via Bleacher Report

    49ers LB Foster DV Charges Dropped, Cleared to Return

    NFL logo
    NFL

    49ers LB Foster DV Charges Dropped, Cleared to Return

    Joseph Zucker
    via Bleacher Report

    Long Rips New Anthem Rules: 'This Is Not Patriotism'

    NFL logo
    NFL

    Long Rips New Anthem Rules: 'This Is Not Patriotism'

    Rob Goldberg
    via Bleacher Report

    NFL Teams That Dominate Each Position Group

    NFL logo
    NFL

    NFL Teams That Dominate Each Position Group

    Maurice Moton
    via Bleacher Report