No Jets receiver has ever been more in sync with Chad Pennington than Laveranues Coles. And so no one around the team figures to be happier that Coles is back than Pennington.

“I’m excited for Laveranues as a person and a football player,” Pennington said yesterday. “I know he enjoyed playing in New York and performing for our great fans. It was obvious after the 2002 season that Laveranues and I had developed a quarterback-wide receiver connection, as well as a friendship. I think he fits perfectly into our receiving corps because of his toughness and his playmaking abilities in both the running and passing game. I’m looking forward to seeing him in the green and white again.”

At long last, the much-anticipated, on-again-off-again trade is complete. Coles, the former Jets receiver, is officially a Jets receiver, and Santana Moss, who was supposed to flourish with the Jets but never did, is the newest Redskins receiver.

The finishing touches on the deal came yesterday, when Coles arrived at the Jets complex at Hofstra and passed a physical. That was the last possible stumbling block on a deal that both teams wanted to happen but had difficulty getting completed after wrangling through financial details on Coles’ contract.

Moss on Tuesday passed his physical with the Redskins.

Apparently, the Jets were satisfied that the right big toe injury that nagged Coles last season has healed and is not a concern.

“He brings a physical and dynamic presence to our receiving group and is familiar with our program,” Jets GM Terry Bradway said.

Moss, 25, never became the big-play threat the Jets envisioned when they made him the 16th overall pick in the 2001 NFL Draft. In four seasons, he had 151 receptions for 2,416 yards, a 16.0 average and 19 touchdowns.

The holdup on the deal was the ability of the Jets to negotiate a long-term contract with Coles, who stands to once again strike gold as he did two years ago when the Redskins stole him away with a lucrative offer sheet the Jets did not match. He’ll receive the final portion ($5 million) of his signing bonus from the Redskins on April 1 and will get a reported $8 million from the Jets as the signing bonus on a new five-year deal.

Coles spent his first three NFL seasons with the Jets and had his best season in 2002 with 89 receptions for 1,264 yards. He had 90 catches last season for the Redskins for 950 yards and one touchdown.

Jay Fiedler arrived last night for a visit and if things go well today could sign as the Jets’ backup quarterback.