NFL Network's Jason La Canfora reports that the Redskins acquire Donovan McNabb from Eagles for 37th overall pick and an additional third or fourth round pick depending on performance, according to a league source.

"Donovan McNabb was more than a franchise quarterback for this team," said Eagles Chairman Jeffrey Lurie. "He truly embodied all of the attributes of a great quarterback and of a great person. He has been an excellent representative of this organization and the entire National Football League both on and off the field. I look forward to honoring him as of the greatest Eagles of all-time and hopefully see in enshrined in the Pro Football Hall of Fame in Canton one day. I wish Donovan and his beautiful family great health and joy for many, many years to come."

"This was a very tough decision," said head coach Andy Reid. "Donovan McNabb represented everything a football player could be during his 11 seasons in Philadelphia. He carried this organization to new heights and set a high standard of excellence both on and off the field. We thank him for everything he did for this football team and for this city."

"Donovan is the ultimate professional," said Eagles president Joe Banner. "He has an incredible work ethic and has been an integral part of our success. Over the years, Donovan has always carried himself with a great deal of dignity. He's an excellent role model for young men and women from across the region. In my mind, he'll always be remembered as one of the greatest Eagles of all time."

Eagles general manager Howie Roseman: "Donovan is clearly one of the all-time greatest Eagles and he represented this team and this city with class over the last 11 years. Certainly a deal of his magnitude took a lot of time and effort to accomplish and it was certainly a tough decision to make in the end. We wish he and his family all the best."

With the acquisition of Washington's 2nd round draft pick this year, the Eagles now have 11 total selections in this year's draft: 1st round (24th overall), 2nd round (37, from Washington), 2nd round (55), 3rd round (70, from Seattle), 3rd round (87), 4th round (105, from Cleveland), 4th round (121), 5th round (137, from Cleveland), 6th round (200, from Indianapolis), 7th round (243, compensatory pick), and 7th round (244, compensatory pick).'

McNabb, the Eagles first round draft pick in 1999, earned six Pro Bowl selections as an Eagle and finished as the franchise's all-time leader in passing yards, touchdown passes, pass attempts, and completions.

Source: NFL.com

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