=== Pennington reaches long-term deal with Jets ===

New York, NY (My Sportsbook) - The New York Jets and quarterback Chad Pennington finally agreed on a long-term contract extension Wednesday.

According to Tuesday's edition of the New York Daily News, the deal was set to make Pennington the highest-paid player in franchise history. The extension includes more than $20 million in guaranteed salary and bonuses and could average up to $9 million per year.

"I understand the hard work that the entire Jets organization and my agency have put into the contract," said Pennington. "I am extremely excited about being a Jet for a long time. Most importantly, I am looking forward to leading our organization to the ultimate prize, a Super Bowl Championship."

Pennington, who set September 1st as the deadline to reach a new agreement so he can focus on playing, would have been eligible to become an unrestricted free agent at season's end.

"The signing of Chad to a long-term deal is a tribute to the hard work of our organization and the support of our owner, Woody Johnson," said general manager Terry Bradway. "Chad made it clear he wanted to be a Jet for a long time and we wanted to make that happen."

Pennington was a first round pick in 2000 out of Marshall and is entering his fifth season with New York. During the 2002 campaign he took over as the club's starter and led the NFL with a 104.2 quarterback rating, while passing for 3,120 yards and 22 touchdowns to go along with six interceptions.

He missed the first six games of 2003 with a broken left wrist, but came back to throw for 2,139 yards, 13 touchdowns and 12 interceptions.