The Eagles and Donovan McNabb opted against a contract extension, but the restructured terms for the final two years of his current deal call for a raise of $5.3 million, noted friend of Camp McNabb, ESPN.com's Michael Smith reported. McNabb can also earn another $1 million in incentives.
The restructuring was announced late last night, as reported in today's Daily News and here on Eagletarian last night. McNabb and coach Andy Reid are scheduled to address the media at 10 a.m. today.
McNabb was scheduled to make about $9.2 million this season, $10 million next season, under terms of a deal signed in 2002, but that money was not guaranteed. According to reports, the new deal calls for a major portion of his 2010 base salary to be guaranteed.