Quarterback Steve McNair and the Tennessee Titans agreed to a new contract Wednesday.
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It is a six-year deal worth $47 million that includes a $16-million signing bonus, $10 million of which he will receive this year and $6 million next year.
The two-tiered bonus is a way to have the first year of the new deal not count more than $2.5 million on the salary cap. Plus, Titans owner Bud Adams doesn't have to write a $16 million check this week to keep his franchise quarterback from becoming a free agent next season.
Titans spokesman Robbie Bohren said Wednesday he could "confirm
only that there's been progress and some details have been worked
out." He said a news conference was scheduled for Thursday.
McNair studied six- and seven-year options, but liked the six-year deal because it was straight forward and didn't have phony money to inflate the value of the deal for meaningless headlines.
General manager Floyd Reese spent last weekend in Mississippi negotiating with McNair's agent Bus Cook, and apparently the only part of the deal they were left with to finish was the signing bonus.
The Titans wanted to finish the deal this week so they could clear out cap room to sign their draft choice and add some veterans players such as fullback William Floyd, cornerback Michael Booker and others.
McNair has said he wants "to retire a Titan."
McNair threw 15 touchdown passes last season, completing 248 of 396 passes for 2,847 yards.
ESPN.com senior writer John Clayton contributed to this report.
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