Donovan McNabb has reportedly agreed to a five-year contract extension with the Redskins worth $78 million, according to ESPN's Michael Smith. The deal includes $40 million in guaranteed money and could balloon to $88 million total if McNabb secures all the bonuses included.
McNabb, 33, was set to become a free agent at the end of the 2010 season -- a possibility that looked more and more likely in recent weeks, especially when McNabb was benched late in a loss at Detroit in favor of Rex Grossman.
Instead, McNabb now appears locked in as the Redskins' starting QB for both the present and near future.
The Redskins traded a 2010 second-round draft pick and a conditional 2011 pick to Philadelphia in April to secure McNabb's services. McNabb had been unable to secure a contract extension to this point, though reports over the weekend indicated that he and Washington were closing in on a long-term deal.
McNabb's extension runs through the 2015 season, at which point the veteran QB would be 39 years old.
In eight games this season, McNabb has thrown for 1,971 yards, seven touchdowns and eight interceptions. He's also rushed for 135 yards.