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NFL Free Agency 2012: Mark Sanchez Contract Extension Will Affect Negotiations With Alex Smith

After a 13-3 finish to the 2011 season and a trip to the playoffs, the San Francisco have made it very clear that they plan on bringing back Alex Smith as their starting quarterback. What has not happened is really any negotiations. However, without having exchanged any numbers, the price tag officially went up for Smith's services on Friday night when it was announced that the New York Jets had extended QB Mark Sanchez' contract an additional three years.

Reportedly, with the terms of his new deal, Sanchez is now set to get paid $60 million over the next five years, with possibly another $10 million in escalators.

Smith earned $5 million in 2011 and is seeking a multi-year deal.

Sanchez completed 56.7 percent of his passes in 2011, throwing for 3474 yards and 26 TDs, but also had 18 INT. He had a passer rating of 78.2

Smith, on the other hand, completed over 61 percent of his throws for 3144 yards, 17 TD and only five picks. His passer rating was 90.7.

Whatever the 49ers were planning on paying Smith, it likely has to go up if they really intend on having him return for an eighth season.

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