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Breaking down Sanchez’s “lipstick and powder” contract

Mark Sanchez AP

Yes, Jets quarterback Mark Sanchez will earn $20.5 million in guaranteed money in 2012 and 2013 as part of his new contract.  The fact, however, that Sanchez already was due to earn $17.75 million over the next two seasons has prompted one league source to characterize the move as a “lipstick and powder” deal.

For an extra $2.75 million, Sanchez gave the Jets three straight option years, allowing the team to keep him if he finally realizes his full potential — and to cut him without further investment after the 2013 season, the 2014 season, or the 2015 season.

The contract also could be called a glorified restructuring.  Per a source with knowledge of the details, Sanchez’s $11.75 million base salary for 2012 has been converted to an $8 million signing bonus, a fully-guaranteed base salary of $3.25 million, and a $500,000 workout bonus.

The move creates $6.4 million in 2012 cap space.

In 2013, Sanchez will receive a fully-guaranteed base salary of $8.25 million.  In 2014, Sanchez is due to receive a $2 million roster bonus on the 15th day of the league year and a non-guaranteed $9 million base salary.  In 2015, there’s another $1 million roster bonus due on the 15th day of the league year, plus a non-guaranteed base salary of $12.5 million.  In 2016, Sanchez is due another $1 million roster bonus on the 15th day of the league yeaar, plus a base salary of $10.75 million.  Workout bonuses of $500,000 apply in each year of the deal.

The contract contains $10 million in potential escalators, based in part on Super Bowl appearances and/or victories.

Given the organization’s apparent mixed feelings about Sanchez, getting the extra money and converting all of it to a guaranteed payment was a good career move.  He could have been dumped after 2012, with the $6 million due next year forever gone.

Still, it likely wasn’t an accident that the news of this one came late on a Friday night.  It’s hardly a big-money, long-term commitment.

Which actually will be regarded by plenty of Jets fans as good news.

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27 Responses to “Breaking down Sanchez’s “lipstick and powder” contract”
  1. nyyjetsknicks says: Mar 10, 2012 1:26 PM

    So basically they said “sorry we talked about getting Peyton. Here is $2.75 million. Our bad. “

  2. jaltreality says: Mar 10, 2012 1:33 PM

    Not sure if they heard from Manning, who perhaps gave them a flat out no, but if that’s not the case, they’d be crazy not to pursue him.

  3. feetsryan says: Mar 10, 2012 1:36 PM

    That’s what you need to do to create cap space. Jets put all there eggs in the Nnamdi basket last year by guaranteeing contracts of Bart Scott and Wayne Hunter for THIS year, which created space for last year. Same thing here. You convert money into signing bonuses which is amortized over a greater period of time.

    I am a huge Jets fan and agree they are big mouths that got what they deserved last year. Just remember, they have a defense and alot of players underachieved last year. Let’s see what happens this year, especially in light of the fact the Pats, Steelers and Ravens are in decline.

  4. habibthomas says: Mar 10, 2012 1:36 PM

    of all the analogies, “lipstick and powder” was the only one available? ….. ha

  5. thatobnoxiousguy says: Mar 10, 2012 1:36 PM

    This only proves one thing. That ANYBODY, even a chimpanzee, can do the job of General Manager in the NFL.

    How in the world do some of these football people still have jobs?

    freakin unbelievable

  6. jdandcoke says: Mar 10, 2012 1:37 PM

    basically sanchez has two years to learn his craft or he’s out. thats more than a fair amount of time by the jets….id personally be looking to dump him after the 2012 season if he screws up again, regardless of the guaranteed money in 2013.

  7. djgblack says: Mar 10, 2012 2:02 PM

    He needs to be pampered, he’s a baby anyway!!!!
    Go get you a quarterback REX!!!!

  8. jets4744 says: Mar 10, 2012 2:02 PM

    Great move that allows the Jets to stick with him through his original Rookie Contract and can cut him after 2013 if he doesn’t preform well at no cost to the team and it creates cap space for this year. The Jets now have over 14 million in cap space that will allow them to resign Pouha and upgrade at a few positions like Wide Receiver and Linebacker. If they are able to trade Scott and Hunter then this will be considered a good off season.

  9. roadtrip3500 says: Mar 10, 2012 2:03 PM

    And who exactly will the Jets pursue after the 2013 season if Sanchez doesn’t make the grade? Luck will be in Indy, Griffin will be in DC, Peyton will be somewhere, Brees will either get a long-term deal with NO or he’ll leave after 2012. Rodgers, Brady, Roethlisberger, Rivers, Romo, Stafford, Cam, and Eli aren’t going anywhere. There’s your top veterans and top kids. That leaves guys like Matt Ryan, Tim Tebow, Kevin Kolb, Sam Bradford, and that tier of QB, or they better hope the second coming of Joe Namath will come out of college that year.

    Whoda thunk that 99-yarder by Cruz would have sent the Jets spiraling like this.

  10. soonerbeagiant says: Mar 10, 2012 2:10 PM

    Love the title! He needs to stop playing like young Eli. Turnovers kill. If all he does is manage the game until he figures what he’s doing he’ll collect every dollar. But if he continues to put the lipstick on every Sunday and sucks balls they well exercise the break up clause.

  11. dolphinatic13 says: Mar 10, 2012 2:11 PM

    Thank you Jets! Putting all your eggs in Sanchez’s basket was a stroke of brilliance. This will insure that your team will still be inconsistent for years to come. Hey Mark, take a little of that guaranteed money and have that berry lanced off of your face.

  12. rickastleydancemoves says: Mar 10, 2012 2:12 PM

    The consistent coddling from the organization, the nauseating assurances from the head coach, the episodes of dividing snaps to “light a fire” under him, now this. If you’re a fan and you are sick of him, imagine what his team mates say about him behind his back.

  13. teal379 says: Mar 10, 2012 2:47 PM

    Reminds me of the “financial apology” that was paid to Sparano a while back.

    I expect this to end in the same fashion.

  14. gimmeabruschi says: Mar 10, 2012 2:57 PM

    So they basically gave him $3 mil to stay in a holding pattern while they look around for somebody good.

  15. gadgetdawg says: Mar 10, 2012 3:33 PM

    If that isn’t enough for him I am sure GQ will drop a bit of cash for another ‘fashion’ spread.

  16. billsfan27 says: Mar 10, 2012 3:35 PM

    Knowing the Jets, the deal really did include lipstick and powder.

  17. 3yrsnfl says: Mar 10, 2012 3:46 PM

    Sign Cahd Pennington as a backup and he will take over starting job and bring the clubhouse in order.

  18. promickey says: Mar 10, 2012 3:49 PM

    The Jets will look to upgrade after this season!

  19. vincentbojackson says: Mar 10, 2012 3:56 PM

    Funny how Sanchez became “their guy” only after it was clear Peyton had no interest in joining the Jets.

  20. mavix27 says: Mar 10, 2012 4:20 PM

    Why would Manning come to NY? It’s cold and he sucks in the cold. Jets did the next best thing…sign Sanchez to an extension and get more cap room. Now they can sign players where they need help the most.

  21. mrslay1 says: Mar 10, 2012 4:21 PM

    Wonder if the guaranty money was paid by usc alum…their good at that:-)

  22. jrcoop says: Mar 10, 2012 4:24 PM

    They would have been better off sending a pic of a pink box of chocolates with “Sorry if flirting with Peyton hurt your feelings. Tanny Woody and Rexy”

  23. mnavia2 says: Mar 10, 2012 5:31 PM

    @feetsryan

    How is it “fact” the Pats, Ravens, and Steelers are in a decline? All were in playoffs last year, the Jets were not. All have had better records then the Jets the last 3 years (yes I know two AFC champ appearances in that time) but two out of three were able to win an AFC champ game in that time and the Ravens were in an AFC Champ game too. So please support facts to the top 3 teams in the league, while basically being able to stay in tact, are on the decline. Thank you in advance.

  24. zeke2517 says: Mar 10, 2012 5:54 PM

    “Funny how Sanchez became “their guy” only after it was clear Peyton had no interest in joining the Jets.”

    Was it clear? Or are you the kind of guy who fudges a little bit in order to make your irrational contempt seem legitimate?

  25. backindasaddle says: Mar 10, 2012 8:07 PM

    ‘feetsryan’ said:

    “Let’s see what happens this year, especially in light of the fact the Pats, Steelers and Ravens are in decline.”
    ________________________________________________________

    The Pats just went to the Superbowl, still have Brady/Belichick, have a tremendous TE tandem, are now a retooled young team, have 2 first round picks and 2 second round picks in the coming draft, and oh BTW…. they swept the NY Nyets last year.

    On the other hand…the Nyets imploded with ugliness flying all over the place. They are locked in and stuck with a really bad QB/receiving corps situation, horrendous team chemistry and their prospects look bleak to say the least.

    I guess you’re just a blind homer fan that is incapable of thinking with unbiased objectivity.

  26. mrslay1 says: Mar 10, 2012 8:27 PM

    Your correct in more ways than you mentioned. The Pats already have their QB of the future learning in the wings with Mallet, and I still believe they will pick up Joe Adams from Arkansas. His 40 time at the combine was way off and he plays faster than anyone I’ve seen. Adams is just a opinion, however they know how to evaluate players as well as coach them and that is why they are the top franchise in football. As a Cowboy fan I hate that, but it is just the facts!!!

  27. xamrai says: Mar 11, 2012 5:32 PM

    This is about the first smart thing the jets do when it comes to “The Sanchize”. I’m a jets fan and i know mark ain’t the greatest QB but this might make him try harder and win us some football games!!!

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