Eagles Wake-Up Call: Revisiting Michael Vick’s Contract

JJF_6641Now that we know Michael Vick is the starting quarterback, let’s take a look at what it means for Vick and the team from a financial perspective.

The 33-year-old’s restructured deal is for one year with a potential value of $10 million, though things will have to go very well for him to see all of that money.

He received a signing bonus of $3.5 million. Another $3.5 becomes guaranteed if he’s on the roster at the start of the regular season. So he’ll make a minimum of $7 million this year.

There is an additional $3 million in incentives. PFT has the breakdown:

He can earn a $500,000 in per-game roster bonuses; he gets $31,250 for each game he’s on the 53-man roster.  Vick gets another $1.5 million if he participates in 90 percent of the offensive snaps, and $1 million if the Eagles win the Super Bowl (and if he plays in it).

The play-time incentive has lower levels, with $1.2 available if he participates in 80 percent of the snaps, $900,000 if Vick participates in 70 percent of the snaps, $700,000 for 60 percent of the snaps, and $500,000 for 50 percent.  The amounts aren’t cumulative; he gets one payment based on his total playing time.  Also, the Super Bowl bonus has lower levels, with smaller payments based on postseason season.  The maximum available is $1 million, if the Eagles win the Super Bowl.

If Vick is on the 53-man for the entire season, the overall number bumps up to $7.5 million. The rest is tied to snaps played and postseason success.

As for snatching that additional $1.5 for participating in 90 percent of the snaps?

In other words, don’t bank on it.

In case you’re wondering, Nick Foles is making a base salary of $500,000 this season.  Matt Barkley is pulling in just over $400,000. The Eagles are an estimated $20 million under the cap.

WHAT YOU MISSED

Vick gets a vote of confidence in the locker room.

The QB says “sometimes you need to be pushed.”

Foles wants to remain with the Eagles despite missing out of the starting job.

Sheil offers three thoughts on the QB decision.

My stab at projecting the 53-man roster.

A check in to see how the Eagles’ rookie draft class is faring.

WHAT THEY’RE SAYING

Phil Sheridan gives his take on Vick being named the starter.

The decision can be seen as both obvious — Vick has more experience, more accomplishments, and a skill set better suited to Kelly’s offense — and somewhat puzzling. Kelly has said he wants to win right away, but it is likely to take him a season or two to rebuild the Eagles from the wreckage of 4-12 into a Super Bowl contender.

In that case, going with the younger Foles would seem to make more sense.

Tommy Lawlor also weighs in:

The point I have to make here is that if Vick was truly a great player, the results would be there. Tom Brady has played in 3 different offenses with the Patriots and has changed his game each time. Peyton Manning built his career with elite skill players, but in 2009 he was surrounded by mediocre talent and took his game to a new level. Peyton was handed lemons and turned them into a Super Bowl appearance.

Vick is a great physical talent, but he’s not a great QB. Never was, never will be…in the NFL. He might have a breakout season in 2013, but if you need the right coach, the right blocking and the right system in order to be good…you aren’t a truly great player. Those guys have a way of lifting everything around them. Vick, at his very best, is still a notch below that.

COMING UP

Practice at 11:30. Billy Davis will speak to reporters before then.

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