by Jay Glazer

That's because Philadelphia has reworked the starting quarterback's contract, giving him a raise over the final two years of his deal and some guararanteed money for 2010.

The story was first reported by FOXSports.com's Jay Glazer.

The five-time Pro Bowl selection was due to make $9.2 million this season and $10 million next season. The size of the raise wasn't announced.

However, a person familiar with the negotiations told The Associated Press, McNabb's new deal is worth $24.5 million over the next two seasons.

"Donovan has played a large part of this team's success over the last 10 years," Eagles chairman Jeffrey Lurie said. "He has been a professional in every sense of the word."

"We are thrilled that this all worked out," team president Joe Banner said. "He is a great football player, a great person, and someone who gives back to the community. We are lucky to have him in Philadelphia."

McNabb is the franchise's all-time leader in several categories, including passing yards (29,320) and touchdown passes (194). He also has taken the team to the playoffs seven times, best in team history.

Last season, McNabb threw 23 touchdowns and 11 interceptions on his way to leading the Eagles to the NFC championship game, where they lost to the Arizona Cardinals.

That was the first time since 2003 that McNabb, 32, had played an entire regular season. This isn't to say that the season in which he threw for 3,916 yards went smoothly.

The quarterback was benched by coach Andy Reid in a Week 12 blowout loss to the Ravens, prompting some speculation that his time in Philly was coming to an end. McNabb's replacement Kevin Kolb didn't fare much better against the fierce Ravens defense.

However, McNabb rebounded a few days later, passing for four touchdowns in an easy win over the Cardinals on Thanksgiving.

The relationship between McNabb and Reid (the man who drafted McNabb in 1999) has been bumpy in recent years.

McNabb tore his anterior cruciate ligament midway through the 2006 season and as he was rehabbing the injury, the Eagles drafted Kolb with their first pick in the subsequent draft. That move created some friction and fueled speculation that the Eagles were preparing for life without McNabb.

But, with the move Thursday, it looks like McNabb will be an Eagle for the near future.

The Associated Press contributed to this report.