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Source: Sanchez deal has $20.5 million in real guarantees

Mark Sanchez

New York Jets quarterback Mark Sanchez talks to reporters in the Jets’ locker room in Florham Park, N.J., Monday, Jan. 2, 2012. The Jets season ended without a playoff game after a season filled with inconsistent play, some in-fighting and lost opportunities. (AP Photo/Seth Wenig)


I resisted repeating any of the various reports that emerged last night regarding Mark Sanchez’s new contract because the word “guarantee” was being thrown around casually, like it was when Donovan McNabb got $40 million guaranteed from the Redskins in 2010 -- and the truth was that he got only $3.5 million.

Per a source with knowledge of the deal, Sanchez will receive $20.5 million in fully guaranteed money over the next two seasons as part of his new contract, with no offsets.

It means that Sanchez will be the starting quarterback for at least two more seasons -- unless the Jets are willing to pay him the same amount not to be.

The extension pays out $40.5 million total, pushing his total deal to five years and $58.25 million. And, for now, it puts Sanchez at No. 6 or No. 7 on the quarterback pay list.

And so Sanchez will be the starter -- or at least make starter money -- for two more years. What happens after that depends on what happens in the next two seasons.

Once we get the official breakdown, we’ll break it all down. For now, it’s safe to say that this isn’t a phony, stop-gap contract. Which may be great news for Sanchez, but possibly bad news for Jets fans.