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The Washington Washington Football Team and quarterback Donovan McNabb have agreed to a five-year, $78 million extension

Fletcher Smith said $40 million of the deal will be guaranteed. A source told ESPN NFL Insider Michael Smith, who first reported the agreement, that McNabb’s contract could be worth $88 million if incentives in the contract are reached.

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.

Smith told the AP that the benching had no effect on negotiations and McNabb is “happy to be a Redskin.”