Redskins, McCoy agree to 1-year extension reportedly worth $7M

The Washington Redskins have agreed to terms on a one-year extension reportedly worth up to $7 million with quarterback Colt McCoy, a source told NFL Network's Ian Rapoport.

McCoy has spent the last four seasons with the Redskins, primarily operating in a backup role behind Kirk Cousins. Cousins signed a three-year contract worth $84 million with the Minnesota Vikings in March, while Alex Smith is expected to become the starter after being acquired by Washington in January.

The contract appears to include unique provisions that could allow McCoy to void the deal if he hits certain criteria:

This extension can become no extension at all if it makes sense for McCoy. If he does hit the void criteria, depending on other factors, the Skins can buyback for 6 different amounts based on playing time percentage and performance. https://t.co/GJgK8FTwIn

- Ian Rapoport (@RapSheet) July 26, 2018

The 31-year-old hasn't taken the field since the 2015 season and last saw meaningful playing time during the 2014 campaign, during which he completed 71.1 percent of his passes for 1,057 yards, four touchdowns, and three interceptions.

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