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NEW YORK (AP) - The New York Jets have signed quarterback Geno Smith, their second-round draft pick, to a four-year contract that is worth about $5 million.

Smith, drafted 39th overall after an unexpected slide out of the first round in April, is competing with incumbent Mark Sanchez for the starting quarterback job. The signing Monday was announced by the team, which still has its two first-round picks - cornerback Dee Milliner and defensive lineman Sheldon Richardson - unsigned.

The Jets' veteran players report for training camp in Cortland, N.Y., on Thursday, but rookies are reporting Monday at the team's facility in Florham Park, N.J.

Smith and Sanchez are competing in what has been called by team officials an "open competition," and neither noticeably outperformed the other in minicamp last month.