The New York Jets, as expected, have released quarterback Chad Pennington.

“I have all the respect in the world for Chad as a person and a player,” G.M. Mike Tannenbaum said in a team-issued statement.  “We have accomplished a lot of great things with Chad, including winning playoff games, which is very hard to do.  He gave his heart and soul to this organization for a long, long time.  I really appreciate everything he has done.”

“I appreciate everything Chad Pennington has given to the Jets organization,” said Chairman/CEO Woody Johnson.  “He was a part of my first draft as an owner in 2000 and has exemplified nothing but class both on and off the field.  I wish him, Robin, Luke and Cole my very best.”

Pennington was due to earn a base salary of $6 million in 2008, but if he hadn’t won the starting quarterback job he likely would have been asked to take a pay cut before the start of the reason, at which time the full amount of the base salary would have become essentially guaranteed.  He’ll now hit the market in search of his next NFL team after spending eight years with the Jets.

It remains to be seen whether the sudden departure of Pennington creates problems in the locker room.  Players like receiver Laveranues Coles, who is a close friend of Pennington’s, might not be happy about this — and Coles won’t be afraid to say so.

It also remains to be seen whether the decision to pay Favre a whopping $12 million for what could be a one-year rental creates further acrimony between the organization and guys like tight end Chris Baker, who has been trying in vain to get the team to make good on a supposed promise to re-do his deal.