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$78M deal for Donovan McNabb

The Washington Redskins and quarterback Donovan McNabb have agreed to a five-year, $78 million extension that could be worth up to $88 million with incentives, a source with knowledge of the agreement told ESPN NFL Insider Michael Smith.

The source said $40 million of the deal will be guaranteed.

McNabb, who will turn 34 later this month, agreed to an extension just two weeks after he was benched at the end of a loss to the Lions because coach Mike Shanahan said the quarterback didn't have a grasp of the teams' 2 minute offense.

Shanahan later cited McNabb's ailing hamstrings as one of the reasons he pulled McNabb in the final minutes of the loss.

We'll be back with some analysis of this move shortly.