The Philadelphia Eagles and New York Jets could wind up swapping quarterbacks.
Before a deal can be made, however, Sanchez must show he's healthy. He underwent shoulder surgery last October and is still rehabbing, though he is expected to be ready when offseason practices begin.
Sanchez would fight it out with fellow former University of Southern California quarterback Matt Barkley for the right to serve as Nick Foles' backup on the Eagles. Vick will be competing with Geno Smith for the Jets' starting job.
Sanchez, the No. 5 overall pick in the 2009 NFL draft, led the Jets to back-to-back appearances in the AFC championship game in 2009-10, but had fallen out of favor in recent years. He didn't play in 2013 after getting hurt in the preseason.
Sanchez, 27, completed 55.1 percent of his passes for 12,092 yards in 62 games for the Jets. He threw 68 touchdown passes as opposed to 69 interceptions and also lost 20 fumbles.