We’ve picked up some more details regarding Mike Vick’s new contract with the Eagles.
So since we have them, we may as well use them.
For starters, a source with knowledge of the deal tells PFT that it’s actually a three-year deal. But the final two years void early in the 2013 league year.
The device is aimed at pushing cap dollars into future years, including $4.8 million from his 2011 signing bonus. If a one-year deal had been signed, an extra $4.8 million would have hit the cap now. By signing a three-year deal that voids to one, $4.8 million lands in 2014.
The maneuver also kicks two thirds of Vick’s $3.5 million signing bonus into 2014.
Speaking of Vick’s signing bonus, he gets half of it now and the rest of it in April. If Vick ultimately loses the starting job to Nick Foles and the Eagles opt to move on, they can avoid the $3.5 million base salary by cutting him, but he will have pocketed the full $3.5 million.
It’s more likely under that scenario that Vick would be traded, since it would cost his next team a lot less money to take on the balance of a deal that already has paid him $3.5 million.