The New York Jets held a press conference tonight, shortly after it was announced that they were pulling out of the running for Peyton Manning. GM Mike Tannenbaum announced that the Jets have signed Mark Sanchez to a new five year deal. This is essentially a three year contract extension added to the remaining two years on the original deal. Tannenbaum told the media that they explored the possibility of adding Peyton Manning but also stated they have been negotiating the new deal for Sanchez over the past few weeks.
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