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Report: Redskins sign McNabb to five-year extension

Donovan McNabb has secured another financial apology.

ESPN’s Michael Smith reports that the Redskins have signed McNabb to a five-year, $78 million extension with a reported $40 million guaranteed. Yep, the organization just doubled down on McNabb two weeks after benching him for Rex Grossman.

As always, we’ll wait to see the contractual details before knowing the full story. The final years of the contract are likely meaningless, and we’ve often seen that “guaranteed” money is often anything but when you look closer.

With that out of the way, this clearly a serious and stunning financial commitment from the Redskins. McNabb will surely be locked in Washington through the 2011 season at a minimum.

McNabb is being paid like a superstar, but he hasn’t played like one. This contract is a bet that he’s going to improve his play drastically in Mike Shanahan’s offense because he’s been league average at best so far. We have our doubts McNabb can life the Redskins beyond mediocrity.

We don’t have to wait long to evaluate Dan Snyder’s latest investment.

Starting Monday night, McNabb gets to make the organization look smart for all their faith or foolish for sinking more money into a doomed partnership with Mike Shanahan.