Clayton: Sanchez has third-worst contract

The New York Jets' recent contract extension of quarterback Mark Sanchez made ESPN senior writer John Clayton’s list as the third-worst NFL contract.

Reportedly New York briefly explored the possibility of landing quarterback Peyton Manning before reaching a three-year, $40.4 million extension with Sanchez. The contract relieved cap room for the Jets but also offered Sanchez more guaranteed money. The move raised some eyebrows because Sanchez struggled in his third season.

This year hasn’t gotten much better. Sanchez has a career-low 53.2 completion percentage and his lowest passer rating (74.6) since his rookie year.

According to Clayton, Sanchez has $10 million guaranteed next year. So there is no doubt Sanchez will be on the roster in 2013. The Jets are also $7 million over the cap and must make some interesting offseason decisions to trim payroll and still find ways to improve the roster.