Report: Donovan McNabb agrees to 5-year contract extension with Redskins

By Cindy Boren

Quarterback Donovan McNabb and the Washington Redskins have agreed to a five-year contract extension worth $78 million, according to ESPN's Michael Smith.

Smith adds that $40 million is guaranteed and the contract could rise to $88 million with incentives.

We'll have more on Redskins Insider shortly.