We’ve gotten our hands on Mike Vick’s new contract numbers. As expected, it’s not nearly as good as advertised.
For starters, the sixth year voids if he participates in 35 percent of the snaps in any year of the deal. It’s actually a five-year, $80 million deal.
Of the amount, $32.5 million is fully guaranteed, and $3 million is guaranteed for injury only.
That makes the total guaranteed $35.5 million — $4.5 million less than the reported guarantee of $40 million. (It’s also less than the guaranteed money Vick would have received in 2011 and 2012, if the Eagles had used the franchise tag on him again in 2012.)
Vick can earn another $3 million if the Eagles win the Super Bowl in 2011 or 2012, and if Vick participates in 77.5 percent of the plays during the regular season.
Under the five-year deal, he’ll make $20 million in 2011, $12.5 million in 2012, $15.5 million in 2013, $15.5 million in 2014, and $16.5 million in 2015.
So it’s still a great deal, and as a practical matter it’s probably worth $48 million over three years. But it’ll never pay out $100 million because there’s no way that the Eagles would keep Vick for all six years if he never takes more than 35 snaps in any single season of the deal.