Donovan McNabb Extension: Five Important Details of the New Contract

Just hours before the Redskins took on the Philadelphia Eagles at FedEx Field on Monday Night Football, it was reported that the team and Donovan McNabb had finally reached a contract agreement.

When first reported, the extension for the 34-year-old vet was a five-year deal worth $78 million ($40 million guaranteed). Many believed McNabb stole the candy, that his contract was entirely too lucrative, and that his new deal shouldn’t be anywhere close to the one Tom Brady signed earlier this season.

However, now that the Redskins have been shellacked on national television and the smoke has begun to clear, the details have surfaced on McNabb’s so-called lucrative extension.

Here are the things you need to know…

1.) What's the Deal Really Worth?

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LANDOVER, MD - NOVEMBER 15: Fireworks go off as Donovan McNabb #5 of the Washington Redskins runs onto the field after being introduced against the Philadelphia Eagles on November 15, 2010 at FedExField in Landover, Maryland. (Photo by Chris McGrath/Get

McNabb’s extension is a five-year deal worth $70 million, however he can get to $78.5 million if he is on the active roster for every game of those five seasons.

The deal’s maximum value is $88.5 million, a number that many people squawked at when first mentioned. In all actuality, the deal can only hit $88.5 million if McNabb leads the Redskins to a Super Bowl win in each of those five seasons—in which case the cash would be well deserved.

2.) Bonus Option: Gold Key to the Deal

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ASHURN, VA - APRIL 6: Mike Shanahan, head coach Washington Redskins, introduces Donovan McNabb to the media on April 6, 2010 at Redskin Park in Ashburn, Virginia. (Photo by Mitchell Layton/Getty Images)

The key to the whole deal is what the Redskins decide to do this off-season. If they exercise McNabb’s $10 million option bonus, then they are responsible for his $2.5 million salary in 2011 and the deal takes flight. If the Redskins do not exercise the option, then McNabb hits the market as an unrestricted free agent—likely contacting Arizona and Minnesota.

3.) Guarantees Or Guaranteed?

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LANDOVER, MD - DECEMBER 21: Bruce Allen, the new general manager of the Washington Redskins, looks on from the field before the game against the New York Giants at FedEx Field on December 21, 2009 in Landover, Maryland. Allen replaces Vinny Cerrato, who

Tomato, tom-ah-to?

McNabb’s agent, Fletcher Smith, described the deal as containing “$40 million in guarantees.” To me, the word "guarantees" has the sound of potential. But the word "guaranteed" implies that something is set in stone.

In this particular case, the Redskins paid McNabb $3.75 million in 2010 for the right to pay him $12.5 million in 2011 and control his rights. 

At this point, the Redskins ARE NOT on the hook for $40 million. In other words, don't get that same feeling you had with the Fat Albert contract. 

Thanks Bruce.

4.) Possibilities This Offseason

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DETROIT - OCTOBER 31: Washington Redskins head coach Mike Shanahan watches the action during the game against the Detroit Lions at Ford Field on October 31, 2010 in Detroit, Michigan. The Lions defeated the Redskins 37-25. (Photo by Leon Halip/Getty Imag

While a new deal has been completed and each party is in great spirits, it really doesn't have any implications of what may happen this off-season.

If the Redskins cut McNabb or trade him at season’s end, they are only forced to pay $3.75 million. This is another aspect of the deal that I’d keep an eye on.

Would the Redskins dare offer this contract to eliminate the negative talk surrounding Mike Shanahan and keep McNabb happy through this season? I know it sounds schemey, but anything is possible. 

5.) Injury Protected

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CHARLOTTE, NC - SEPTEMBER 13: Quarterback Donovan McNabb #5 of the Philadelphia Eagles lays on the ground after injuring his knee in the second half of their NFL season opener against the Carolina Panthers at Bank of America Stadium on September 13, 2009

If McNabb suffers a catastrophic injury this season and never plays again, he would receive an additional $25 million.

And this is normal these days. The almighty Tom Brady has one too.