
NEW YORK, Sept. 1 (UPI) -- The New York Jets announced Wednesday they had signed quarterback Chad Pennington to a long-term contract extension.
The New York Daily News reported Pennington became the highest-paid player in franchise history with a deal that includes more than $20 million in guaranteed salary and bonuses.
"I understand the hard work that the entire Jets organization and my agency have put into the contract," Pennington said. "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 had set a Sept. 1 deadline to sign a new contract so he could focus on playing. He could have become an unrestricted free agent at the end of the season.
Pennington missed the first six games of 2003 with a broken left wrist, but came back to throw for 2,139 yards and 13 touchdowns.
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