Monday, November 15, 2010
Correction! McNabb Extension With Redskins Only $3.5 Guaranteed
Per ESPN's Michael Smith, QB Donovan McNabb and the Redskins agreed to a 5-yr extension with the Redskins worth reported $78 mil, with $40 mil in garauntees. Per this new ESPN report by Adam Schefter the true guarantee is only $3.5 million and the deal has clauses galore that would need to be reached for McNabb to see the full extent of the deal. Here are the details:
One of the contract's most significant points is a payment due this offseason, when the Redskins must decide whether or not to pay McNabb a $10 million option bonus. If they do, it would trigger the rest of the contract and make Washington liable for McNabb's $2.5 million base salary in 2011.
So in essence, the Redskins paid McNabb $3.75 million in 2010 for the right to pay him $12.5 million in 2011 and control his rights. If the Redskins cut him after this season or trade him, they are only on the hook for the $3.75 million.
Boiled down, the deal's real guarantee is $3.5 million, though if McNabb suffered a catastrophic injury this season and never played again, he would receive $25 more million.
This is following the bye Redskins bye week, after coach Mike Shanahan pulled McNabb late in the game due to poor conditioning (McNabb has been nursing injuries all season.
McNabb is in his 12th year in the NFL and first with the Redskins. So far this season he has completed 57% of his passes., with 7 touchdowns, 8 interceptions and a QB rating of 76.