Jets extend QB Sanchez's contract by 3 years

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NEW YORK (AP) -- The New York Jets have extended quarterback Mark Sanchez's contract and dropped out of pursuing free agent Peyton Manning.

The team announced the extension for Sanchez in a conference call Friday night, and general manager Mike Tannenbaum says the Jets "looked at" going after Manning before deciding to stick with Sanchez.

Sanchez led the team to the AFC championship game as a wild card in his first two seasons, but struggled as the Jets lost their last three games in 2011 to finish 8-8 and out of the playoffs.

That led to speculation they would pursue Manning, who was released by the Colts on Wednesday.