The Facts:
Pennington agreed to a $64 million, seven-year contract extension with the Jets today that includes $23 million in guaranteed money. He also receives the second-largest amount of up-front money, behind only Peyton Manning, who got a $34.5 million signing bonus earlier this year. The total value of Pennington's deal is $64.197 million.
Reported by the Associated Press
Fantasy Football Diehards Line:
Pennington had set a deadline of the end of the preseason, which is after Friday night's game against Philadelphia, for a new deal to be finalized. He did not want negotiations to stretch into the season, nor did the Jets, who didn't want to chance losing him as a free agent.
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