The Eagles announced today that Mike Vick has agreed to a restructured 3-year contract that is basically a 1-year deal that will reduce his pay in 2013. No. 7 will get another chance to win the Eagles starting quarterback job.
More from Roob on the technicalities:
Although the restructured deal is technically a three-year deal, the
2014 and 2015 seasons will automatically void on March 15, the league
source said. The Eagles and Vick had to add those years onto the
contract to satisfy guidelines in the Collective Bargaining Agreement.
Technicalities are fun.
Technically a 3-year deal to satisfy CBA rules but 2014 and 2015 will void on March 15. It's a 1-year deal. Makes him more tradeable, too.
— Reuben Frank (@RoobCSN) February 11, 2013
As others have noted, Michael Vick's new deal could be worth up to $10 million, per a source. Said to have significant signing bonus.
— Jeff McLane (@Jeff_McLane) February 11, 2013
Vick deal is worth "up to $10 million." Better question is worth "as little as" what number..
— Andrew Brandt (@adbrandt) February 11, 2013