Since Pennington has gone to Miami and in effect his career has dissolved due to multiple injuries, his name has not been brought up as a possible coach. In my humble opinion, he would be a great mentor to Sanchez as a coach. If he's ready to make the move to coach the Jets should make a move for him.
Here's the reasons why:
1) Been Here Done That: He was the QB for the Jets, he knows the pressure, the media, and the hype that comes with it. As a mentor, he would be able to teach Sanchez exactly how to go about his business and how to deal with it better. He would also know exactly what Sanchez is going through, and be able to talk him through the lows and the highs. Other than his famous gaffe during the press, Pennington was the epitome of a classy, professional player. In this sense, he would be able to teach Sanchez how to handle the NY press conferences where Sanchez often comes out looking confused he would now know exactly what to say.
2) Pennington's Leadership: Its no longer Pennington who will have to be the leader of a franchise, but he can certainly help Sanchez know how to handle the locker room. During his time as a Jet, no one ever questioned Penny's leadership. (everyone questioned his arm strength) Bringing him in would allow Sanchez to learn exactly how a guy who the media loved to question and was maligned for not being Super Bowl caliber led the Jets into contention and had the confidence of his teammates. In this sense, he would be a great mentor/ coach to Sanchez to be able to finally grasp the leadership role of the team that has been vacant since T-Rich left.
3) Study, Work Ethic: After the news today of the unnamed players calling out Sanchez, this would be where the biggest on the field impact would be made. Pennington was always known as one of the smartest QB's and was among the best at reading defenses and coverages. (with his arm strength he could not afford to make a mistake.) Guess what Sanchez's biggest issues are: Reading the defense and diagnosing it. Pennington in this sense would be a perfect fit for Sanchez in the video room and also on the field. Pennington's ability to break down defense would give insight to Sanchez how and where to take chances and when he should move around to buy time or just check it down. Also Pennington could show Sanchez how to prepare before the games, if that's where the issue is. I remember hearing about Pennington's study habits and how well he prepared for games. Once again, if the Unnamed Sources™ are right, then once again he would be a great fit.
Pennington may not want to coach next year but if he does, I think he would be an excellent fit for Sanchez. A proven leader, a former NY Jet who the media loved to question and an expert on preparation and reading defenses. If it's up to me I want him as a coach.