"Through words and deeds, Chad has stated how important it is for him to remain with the Jets," said Jets coach Eric Mangini. "He is a smart, tough, competitive, hard-working football player and has demonstrated he is willing to make sacrifices for the betterment of the team. We are constantly looking for players who place the accomplishments of the Jets ahead of individual goals, and Chad is an excellent example."
"Heading into the off-season, I knew that re-working elements of my contract was a possibility," said Pennington. "That's the business-side of the industry and that's what the off-season is for. It was nothing personal, and I understand that. Moving forward, I am anxious to return to the playing field and feel very positive about where we are in the process. Likewise, I'm going to do what I need to do to get better because if I get better, this organization will get better. Since I was drafted by the Jets my singular goal has been to help get this team to the championship level."