Let's look at McNabb's extension

I know, I know. That's what she said.

Monday afternoon, before the Redskins were dismantled by the Eagles, Washington's front office finally inked quarterback Donovan McNabb to a contract extension. It was a move the Redskins have wanted since acquiring the 33-year old in April.

McNabb's contract would have expired at the end of the season, and many thought he'd likely leave the nation's capital and head to Minnesota to play alongside former Eagles offensive coordinator Brad Childress.

The details of the contract are ugly at first glance: five years, $78 million, $40 million of which are guaranteed. And McNabb hasn't been a world-beater since joining the team. Heading into last night, he was 15th in passing yards, 26th in passing touchdowns and 28th in quarterback rating.

In other words, a ton of money for an aging quarterback who probably won't lead the team to a Super Bowl.

But consider this: Washington has no intention of honoring the full contract. It's no skin off Washington's back to cut McNabb after his third or fourth year, and it was probably the only way to get him to stay in town next season after benching him two weeks ago.

So the Redskins hand over a third-rounder to Philly next year, and still have their first- and second-round picks for the 2011 NFL Draft. In a draft loaded with quarterbacks (Stanford's Andrew Luck, Arkansas' Ryan Mallett, Washington's Jake Locker, Auburn's Cam Newton and Missouri's Blaine Gabbert, to name a few), the Skins could still take a relatively low-risk pick in the first or second round and nab a franchise quarterback for McNabb to mentor.

So worry not, Redskins fans. The season and future of this team aren't worthless, despite a terrible contract and a miserable showing last night.