Sanchez suffered the injury in the third preseason game. He was placed on injured reserve shortly afterwards. Sanchez's rehab timeline makes it unlikely he will be ready in time for the offseason program, if he's even on the Jets by then.
Sanchez was in a starting quarterback competition with rookie Geno Smith, but he lost that competition with the injury. Sanchez became unpopular in New York after another poor performance in the 2012 season, throwing 18 interceptions and losing eight fumbles. The Jets are expected to release him after the season despite Smith's rookie struggles. Sanchez is due $9 million in the 2014 season and is set to make a $2 million roster bonus if he's still on the team in March.
Despite the prohibitive contract, Sanchez hopes to be back with the Jets in 2014 and compete for the starting job again. He intends on playing out his contract, which expires after the 2016 season. Smith could make the Jets' decision a lot easier if he shows any progress over the last five games. The Jets are 5-6 and trying to stay alive in the playoff race.