Jets Reach Agreement With First-Round Pick Mark Sanchez

Mark Sanchez and the Jets have agreed on a contract

FLORHAM PARK, N.J. -- The New York Jets announced Wednesday afternoon that they have reached agreement on the terms of a contract with quarterback Mark Sanchez, their first-round pick from this year's draft.

The Jets did not release terms of the contract, but a person close to the situation confirmed to FanHouse that it's a five-year deal that includes about $28 million in guaranteed money and could be worth as much as $60 million total if Sanchez meets all of his incentives.

Sanchez's contract isn't close to the $41.7 million guaranteed that the No. 1 overall pick, former Georgia QB Matthew Stafford, got from the Lions. Nor does it match the $34.75 million guaranteed that last year's No. 3 overall pick, former Boston College QB Matt Ryan, got from the Falcons. But the deal for Sanchez (who was No. 5 overall this year) is sure to renew calls from the NFL and its owners for a rookie wage scale.

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The league has made no secret that it hopes to implement some kind of restriction on rookie salaries as part of the next collective bargaining negotiations. But while some veteran players have been critical of the idea of unproven rookies earning more than most veterans, the NFLPA has made it clear that it opposes the idea of a rookie wage scale.

New players' union head DeMaurice Smith has several times made the point that there's already a salary cap and that if the owners don't want to pay rookies so much, they should just stop doing it.