Update:
McNabb's five-year extension is worth $70 million and can get to $78.5 million if he is on the active roster for every game in those five seasons. The deal's maximum value is $88.5 million if McNabb leads his team to a Super Bowl victory every year.
But the real question is how much he'll actually earn and whether it will be in Washington.
One of the contract's most significant points is a payment due this offseason, when the Redskins must decide whether 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.
If they don't, then McNabb would stand to cash in. McNabb then would get to become an unrestricted free agent at a time when multiple teams will be looking to upgrade their quarterback, the position that commands the game's priciest salaries.
McNabb's agent, Fletcher Smith, clarified some of the details of McNabb's deal Tuesday to The Associated Press and acknowledged while the contract is worded so that it has "$40 million in guarantees," the Redskins do have an option to cut McNabb at the end of the season with no further money due.