Talk about another business move. 

The Jets and Mark Sanchez agreed to a three-year contract extension on Friday night. The contract extension makes Sanchez the seventh highest paid QB in the NFL, but also puts an end to the Peyton Manning rumors. Sanchez will receive $20.5 million in guaranteed money during 2012 and 2013 while receiving $40.5 million during 2014-2016. The $58 million package is roughly the seventh highest in the league. 

Prior to signing the extension, Sanchez was not guaranteed to receive any money. The Jets kept an open mind about inking Peyton Manning, but ultimately decided to stick with Sanchez for at least the next two seasons.

By playing the Peyton card, the Jets were able to strike this team-friendly deal with Sanchez. After watching Tom Brady sign a huge deal, this move makes a lot of sense. Sanchez is not in the same galaxy as Brady is, but given the economics of football, it’s a good move.