Vick, Eagles agree to lucrative, long-term deal

Posted Aug. 29, 2011 @ 7:56 p.m.
Posted By PFW staff

Updated Aug. 31,  2011 @ 1:37 a.m. ET

Two years ago, Michael Vick was the new guy in Philadelphia, having just been released from a federal penitentiary and signed by the Eagles as a long-term project backing up QBs Donovan McNabb and Kevin Kolb.

Last year, after McNabb was traded, Vick was supposed to be the primary backup to Kolb on a rebuilding Eagles squad. Instead Vick took the job in Week One after an injury to Kolb and never looked back, helping Philadelphia win the NFC East.

This season, Vick is the no doubt main man in the City of Brotherly Love. He is also going to be there for the next few seasons as well, after agreeing to a six-year, $100 million contract with the team on Monday, as first reported by Andrew Brandt of ESPN and the National Football Post.

According to Pro Football Talk, the sixth year of the deal voids if Vick participates in 35 percent of the snaps in any season — a virtual certainty barring serious injury. As a result, it's more realistically a five-year deal worth $80 million, with $35.5 million guaranteed. Vick's compensation in 2011 is $20 million, made up of a $7 million signing bonus, a $3 million roster bonus and a $10 million guaranteed base salary. His $12.5 million salary in 2012 is also guaranteed, but only $3 million of his $16.5 million salary in 2013 is guaranteed — and only for injury.

Vick had a fantastic season in 2010, throwing for more than 3,000 yards, rushing for 676 yards and accounting for 30 total touchdowns. He also turned the Eagles into desirable destination for free agents, which the team benefited from this offseason by making several key signings.

"I'm very happy we were able to reach an agreement with Michael on this long-term contract," head coach Andy Reid said. "It's a product of all the hard work Michael has done to better himself over the last couple of years, both on and off the field. I'm very proud that he has been able to achieve success again in this league, but he'll be the first one to tell you that there is a lot of work yet to be done by him and this team as a whole. And there's no doubt in my mind that he will continue on that path. I give a lot of credit to Joe Banner and Joel Segal for getting this deal done."

The quarterback is 31 years old, but did miss two full seasons because of his incarceration for dogfighting charges in 2007 and '08. The average of $16.67 million over the next six years makes Vick one of the highest-paid players in the NFL, trailing only Peyton Manning and Tom Brady.

In March, Vick signed a franchise tag offer from the Eagles, paying him the average of the five highest-paid quarterbacks, approximately $20 million. The new contract would dismiss that deal.