NFL.com's Ian Rapoport reported during Sunday's edition of NFL Network's "NFL Total Access" that Sanchez's MRI was inconclusive, and the Jets believe the injury is not a long-term issue.
Sanchez told one teammate "I'm fine," Rapoport said, but the Jets still are trying to figure out if the quarterback's injury is just a bruise -- it's at least that -- or if there is a separation.
Although there are no details on the severity of the injury to Sanchez's throwing arm, the early indications suggest Smith now is the heavy favorite to start in the Jets' season opener.
Ryan is due to address the media at Monday's 2:15 p.m. ET news conference.