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New York Jets Extend Quarterback Mark Sanchez

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It was not lost last night, but with the Washington Redskins trading for the second overall pick in next month's NFL draft, the news coming out of New York was buried. Almost simultaneously with the Redskins news came word that the New York Jets had extended quarterback Mark Sanchez. And, for a team that was considering pursuing Peyton Manning, the extension itself wasn't the strangest part.

That would be the money.

Related: Washington Redskins Trade for St. Louis Rams Second Draft Pick

Sanchez had two years remaining on his rookie deal before the extension. Now, he is locked in with the Jets for five. The extension pays Sanchez adds $40.5 million to Sanchez' contract, giving him a 5-year salary of $58.25 million, with $20.5 million guaranteed. Plus, there is another $10 million in escalators that could be added to the value of the contract.

The total value of the contract makes Sanchez the seventh-highest paid quarterback in the league.