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Ex-Trojan Sanchez Signs With Jets For $50 Million

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Jun 10, 2009 6:11 pm US/Pacific

Ex-Trojan Sanchez Signs With Jets For $50 Million

NEW YORK (AP) ― The New York Jets have reached a contract agreement with quarterback Mark Sanchez.

Sanchez was the fifth overall pick in the NFL draft in April after leading Southern California to a Rose Bowl victory over Penn State with a record-setting performance.

The quarterback is competing with veteran Kellen Clemens for the Jets' starting job, up for grabs after the retirement of Brett Favre.

The Jets made the announcement during Wednesday's minicamp.

Deal is said to be worth 5 years, $50-million with $28-million guaranteed.

(© 2010 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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