Jets ink Pennington to extension

The New York Jets on Wednesday announced they have signed quarterback Chad Pennington to a contract extension.<p>

Pennington current contract expires after the 2004 season, and the Jets didn't want to wait until then to extend the deal of their franchise quarterback.

Pennington's extension is worth $64.197 million over seven years, including $23 million in guaranteed money.

"I am extremely excited about being a Jet for a long time," said Pennington. "Most importantly I am looking forward to leading our organization to the ultimate prize, a Super Bowl Championship."

"Chad made it clear he wanted to be a Jet for a long time and we wanted to make that happen," said Jets GM Terry Bradway.

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