As a result, Tennessee won't be saddled with a $50-million US option that would have extended McNair's contract through 2009.
"What this amounts to is they decided to pay $1 million US and not add three years to his contract," noted Bus Cook, McNair's agent. "So this is his last year."
Cook revealed that, even with the move, McNair's salary will account for $23.4 million US of Tennessee's $94.5 million US cap space and "at the end of this year, Steve will be a free agent."
Steve McNair needn't worry about free agency in 2006. (AP Photo/Jim Mone)
McNair started 14 games for the Titans last season, completing 61.3 per cent of his pass attempts (292-476) for 3,161 yards and 16 touchdowns with 11 interceptions.
The 33-year-old also scrambled 32 times for 139 yards and a TD.
McNair is a career 59.5 per cent passer as a pro, having completed 2,305 of 3,871 passes for 27,141 yards and 156 TDs and 103 INTs in 139 games (131 starts) since being drafted third overall in 1995 by the Houston Oilers, which later moved to Memphis.
McNair, a two-time Pro Bowler, is 81-59 quarterbacking the Oilers/Titans and only one of five NFL players to throw for 25,000 yards and run for 3,000 yards.
Randall Cunningham and Hall of Famers John Elway, Fran Tarkenton and Steve Young are the others.
McNair shared NFL most valuable player honours with Peyton Manning in 2003.
with files from Sports Network
